Indian auto major Mahindra and Mahindra has reportedly come up with plans of investing about Rs 4,000 crore in its large manufacturing facility located in Tamil Nadu that would used to roll out future models from the company. The Tamil Nadu Government has reportedly promised to allocate about 255 acre land in Cheyyar located in Kancheepuram district. This could likely be the largest facility for the company in India.
Speaking more on the occasion, Pawan Goenka, Executive Director of Automobile Division, said, “In the first phase, we will set up the test track facility. Second will be an automotive plant. We have been promised that the land will be allocated very soon. The MoU will be signed during the Global Investors Meet (in May this year)”. Adding further he said, “After land has been alloted to us, immediately, we will start off with the test track facility. After that we will set up the automotive factory. But, it depends on how the auto industry grows. This is a future plant. As we develop new products, those products will come from this plant. It will be for both domestic and exports. We are also expecting policies on 'Make in India' concept. It has been talked about. It is not specific to auto industry. If there is an impetus on 'Make in India', that will certainly help all companies that are involved.”
Source: ET
