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New Delhi: Tata Motors Group, India’s leading manufacturer of commercial and passenger vehicles has signed a facilitation Memorandum of Understanding (MoU) with the Government of Tamil Nadu to explore setting-up of a vehicle manufacturing facility in the state.
The MoU envisages an investment of INR 9,000 crores over 5-years and can potentially create up to 5,000 jobs (direct and indirect). Following the signing of this MoU, teams from Guidance, Tamil Nadu’s nodal agency for investment promotion and facilitation, and Tata Motors Group will work together to take this opportunity forward.
The MoU was exchanged in the presence of state Chief Minister M.K. Stalin and signed between V Vishnu, Managing Director and CEO, Guidance Tamil Nadu, and PB Balaji, Group CFO, Tata Motors. The Minister for Industries TRB Rajaa, the Secretary of Industries, Investment Promotion & Commerce Department Arun Roy and senior officials of Tata Motors Group were also present.
