Tamil Nadu is set to see investments of over Rs 10,350 crore following five agreements signed in the automobile and allied sectors.
The agreements signed in the presence of the Chief Minister, Ms J. Jayalalithaa included investment plans by Daimler India Commercial Vehicles Pvt Ltd, India Yamaha Motor Ltd, Ashok Leyland-Nissan Motor Company Ltd, Eicher Motors Ltd and Philips Carbon Black.
The Chief Minister announced in the Assembly today Daimler India Commercial Vehicles has decided to double its investments to Rs 4,000 crore at its Chennai plant. This will generate 3,000 jobs.
She had inaugurated the plant in April 2012. The company had entered into an agreement with the previous government in 2008 to invest Rs 3,000 crore but had decided to bring it down to Rs 2,000 crore in 2010.
India Yamaha Motor plans to set up a Rs 1,500 crore, two-wheeler making unit at Vallam Vadagal in Kanchipuram District. This unit will generate over 3,000 jobs directly and 20,000 jobs indirectly.
The Ashok Leyland-Nissan joint venture’s plan to invest Rs 4,150 crore in a light commercial vehicle manufacturing plant has been rejuvenated with the support of the State Government. The company has entered into an agreement with the previous government in September 2008 and land had been allotted only in February 2011. This unit will generate 3,000 jobs.
Eicher Motors, the manufacturer of Royal Enfield motorcycles, will set up a Rs 350 crore production facility in Oragadam. The State Government has allotted 50 acres land at the Sipcot Industrial Estate there. This unit will generate over 300 jobs.
Philips Carbon Black Ltd plans to invest Rs 350 crore to set up a factory to make carbon black, a raw material used in tyre manufacturing. The unit is to come up in Thervoykandigai industrial estate in Thiruvallur District to the North of Chennai.
The Chief Minister said these agreements provide for new investments of over Rs 5,700 crore and will create over 9,530 jobs.