Integrated automobile project
World’s three auto majors Renault of France Nissan of Japan and India’s Mahindra and Mahindra have come together to set up an integrated automobile projects to produce a wide range of vehicles near Chennai at an initial investment of Rs.4000 crores.
Sakthikanta Das, secretary, Tamil Nadu Industries signed a memorandum of understanding (MoU) with Mahindra & Mahindra automotive president Pawan Goenka, Renault executive vice-president Patrick Pelata and Nissan Motor executive vice-president Carlos Tavares, in the presence of Chief Minister M.Karunanidhi in the Secretariat to set up the nation’s biggest vehicle manufacturing centre at a single location at SIPCOT Industrial Park, near Chennai.
Initially, Rs.4000 crore will be invested by the three auto giants on the integrated automobile project, on a 1,000-acre spread at Oragadam, the ‘Detroit of South Asia’. Mr.Keshub Mahindra, chairman of M & M told reporters that this abutomobile project would be India’s biggest automobile manufacturing centre rolling out cars and SUVs besides 50000 tractors per annum. He said that the first vehicle plan in this venture would roll out in the second half of 2009.
About 41000 persons will get direct and indirect job by this automobile project. About 18000 crore per annum will be resulted to the State Gross Domestic Product (GDP) by this automobile project.
This automobile project will consist of integrated facilities including engine plant, transmission plant, press shop, body shop, paint shop, assembly line soon. There will also be a Mahindra Research Valley in the Mahindra World City near Chennai.
Secretary L.K.Tripathy, Finance Secretary K.Gnanadesikan, SIPCOT MD Jothi Jegarajan, Mahindra and Mahindra president Keshub Mahindra, Renault India managing director Arun Nanda, Nissan general manager Sylvain Bilaine and Horiuchi Yoshio were also present at the function.
