Key Points
Automobile giant Tata Motors and the Tamil Nadu Government have signed a Memorandum of Understanding (MoU) to build a vehicle manufacturing facility with an investment of Rs 9,000 crore over the next five years, the company said in an exchange filing on Wednesday...
The announcement comes after Vietnamese electric vehicle maker VinFast commenced building a factory in the southern state, marking the second automobile manufacturing investment within a span of just 2 months...
"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..
The Minister for Industries Dr. TRB Rajaa, the Secretary of Industries, Investment Promotion & Commerce Department Arun Roy, IAS, and senior officials of TATA Motors Group were also present, the automobile company said.. " 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," it further said...
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