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Tata Motors signs MoU with TN to invest INR 9000 cr on new project

New Delhi: Tata Motors, India's leading passenger and commercial vehicle manufacturer, has signed a facilitation Memorandum of Understanding (MoU) with the Tamil Nadu government to explore the possibility of setting up a vehicle manufacturing plant in the state.

The MoU envisages an investment of Rs 9,000 crore over five years and can potentially create up to 5,000 jobs (direct and indirect). Following the signing of this MoU, the teams from Guidance, Tamil Nadu's nodal agency for investment promotion and facilitation and Tata Motors Group will work together to leverage this opportunity.

The MoU was exchanged in the presence of State Chief Minister M.K. Stalin and signed between V Vishnu, Managing Director & CEO, Guidance Tamil Nadu, and PB Balaji, Group CFO, Tata Motors. The meeting was also attended by Industry Minister TRB Raja, Minister of Industry, Investment Promotion and Commerce Arun Roy and senior officials of Tata Motors Group were also present.

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