Tamil Nadu Chief Minister MK Stalin on September 28 laid the foundation stone for a Tata Motors plant manufacturing plant at SIPCOT complex in Panappakkam (Ranipet district).
The plant to be constructed at an estimated cost of Rs 9,000 crore will manufacture Jaguar and Land Rover cars and will provide employment to 5,000 people.
The foundation stone was laid by CM Stalin in a ceremony attended by Tata Sons Chairman N Chandrasekaran and state minister for industries TRB Rajaa.
Speaking on the occasion, Stalin expressed joy over Tata Motorsā plan to set up a manufacturing facility in TN.
āTamil Nadu is the first investment destination not only for big companies that operate in India but also for multinational corporations. We are delighted with the presence of Chandrasekaran in this event. Hailing from Namakkal district and leading a globally renowned company, he is a pride for the State,ā Stalin said.
The proposed plant, part of a memorandum of understanding (MoU) signed between Tata Motors and the Tamil Nadu government, is likely to have a minimum capacity of 200,000 units in its first phase. This will be Tata Motorsās second plant in South India, after Dharwad in Karnataka.
Besides Tata Motors-Jaguar Land Rover, automaker Ford Motor Company also recently announced plans to set up a manufacturing unit in Tamil Nadu, which would help create 2,500-3,000 new jobs in the next few years.
The company has submitted a Letter of Intent (LOI) to the Government of Tamil Nadu in India, outlining Fordās intention to utilize the Chennai plant for manufacturing for export.