Tata Motors and the Tamil Nadu government have sealed a significant deal, with an investment commitment of Rs 9,000 crore to establish a state-of-the-art manufacturing facility, announced Industries Minister T R B Rajaa on Wednesday. The proposed facility, slated for Ranipet district, is anticipated to create 5,000 new employment opportunities, according to an official statement released here.
The agreement was formalised as Tata Motors CFO PB Balaji and V Vishnu, MD and CEO of Guidance Tamil Nadu, exchanged documents in the presence of Chief Minister M K Stalin. Minister Rajaa also graced the occasion.
“In an exciting development, #TataMotors and the Government of Tamil Nadu are set to embark on a transformative journey! Today, in the esteemed presence of our Honorable @CMOTamilNadu Thiru. @MKStalin avargal, @TataMotors has inked an MoU with the Government of Tamil Nadu, pledging an investment of Rs 9000 crore and promising over 5000 new #JobsForTN,” stated Rajaa in a social media post.
Highlighting the state’s recent successes, Rajaa expressed, “For the FIRST time EVER, TN has attracted TWO BIG Automobile Manufacturing #Investments within a span of just 2 months.”
In addition to Tata Motors’ commitment, the state has also secured a significant investment from Vinfast, based in Vietnam. Vinfast has pledged Rs 16,000 crore towards establishing an electric vehicle manufacturing facility in Thoothukudi, a southern district of Tamil Nadu.
“Over the past couple of years, Tamil Nadu has surged ahead, emerging as the ultimate destination for investments, underscoring our Chief Minister’s unwavering commitment to fostering top-tier employment opportunities for our dynamic youth and enhancing our industrial prowess,” remarked Rajaa.
“We are not merely constructing factories; we are shaping aspirations and propelling towards a brighter, more prosperous future! #Investment #AutoCapitalOfIndia,” he concluded.
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