Chennai, Mar 13 (PTI) Tata Motors has signed a memorandum of understanding with Tamil Nadu government, committing an investment of Rs 9,000 crore to establish a manufacturing facility in the state, Industries Minister T R B Rajaa said on Wednesday.
The proposed facility at Ranipet district would generate 5,000 new jobs, an official release here said.
Tata Motors CFO PB Balaji and V Vishnu, MD&CEO, Guidance Tamil Nadu, exchanged documents in the presence of Chief Minister M K Stalin in this connection. Rajaa was present on the occasion.
"#TataMotors and the Government of Tamil Nadu are revving up for an epic journey!! In the presence of our Honourable @CMOTamilNadu Thiru. @MKStalin avargal, @TataMotors today signed an MoU with the Government of Tamil Nadu to establish a cutting-edge vehicle manufacturing facility, committing an investment of Rs 9000 crore and generating up to 5000+ #JobsForTN ", Rajaa said in a post on 'X.'.
"For the FIRST time EVER, TN has attracted TWO BIG Automobile Manufacturing #Investments within a span of just 2 months", he said in another post.
The other big ticket investment bagged by the state government is from Vietnam based Vinfast which has committed to invest Rs 16,000 crore for an electric vehicle manufacturing facility in the southern district of Thoothukudi.
"Over the past couple of years, Tamil Nadu has hit the fast lane and become the ultimate hub for investments, showcasing our Chief Minister's dedication to fostering top-tier employment for our vibrant youth and amplifying our industrial prowess." "We're not just building factories; we're engineering dreams and accelerating towards a brighter, more prosperous future!# Investment #AutoCapitalOfIndia" Rajaa added. PTI