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Ford India plans to invest Rs 750 crore at its car plant near Chennai to produce Ford Eco Sport, an SUV.
According to an official press release, Ford India's President and Managing Director, Mr Michael Boneham, who met the Tamil Nadu Chief Minister, Ms J. Jayalalithaa, informed her of the company's plans today.
This investment is in addition to the Rs 4,500 crore it has invested in the car assembly and engine plants at Maraimalai Nagar, about 50 km south of Chennai on the GST Road (NH45).
Mr Boneham informed the Chief Minister that Ford India has decided on the additional investment to produce their new model called Ford Eco Sport. This will generate an additional employment for about 400 people. Ford's investment totals Rs 1,130 crore since May 2011.
Ford's investment in Chennai in 1995 triggered the subsequent influx of investment by automobile companies in Tamil Nadu, making Chennai a hub for automobile industries. Ford employs more than 5,000 people and the company has been growing at a steady pace of more than 15 per cent annually from its inception.
Ford India manufactures the Ford Figo, Ford Fiesta Classic, Ford Endeavour and the recently launched All-New Fiesta at the Maraimalai Nagar plant.
Ford has also set up its Global Business Service Centres in Chennai and Coimbatore which employs more than 5,000 people.
The Chief Minister assured Mr Boneham of continued support from the State Government, the release said.
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