Hyundai Motor India Limited to sign MoU with Government of Tamil Nadu to set up world class engine plant and press shop

Monday 05 November 2012, 10:02 AM by

Hyundai Motor India Limited, which is a 100 per cent subsidiary of Hyundai Motor Company Korea, on November 1st 2012, announced an investment of USD 300 million in a world class engine plant and a new press shop, apart from the investments already being made in new models. The Press and Engine shop would be constructed at its existing location at Sriperumbudur in Chennai. The company in this regard will sign a memorandum of understanding (MoU) with the government of Tamil Nadu on 5th November 2012. This investment will bring more diesel options for the customers across all segments in the future. Moreover, direct employment opportunity for 500 persons would be created and a large number of indirect employment as well.

“Through this investment we strengthen our commitment to the state and the country. This investment will help us meet the growing demand of diesel vehicles in India and reduce the waiting period,” said Bo Shin Seo, Managing Director, Hyundai Motor India Limited.

The proposed engine plant and other facilities are to be set up within the premises of HMIL, located at Irungattukkottai in Chennai.