T.N. to remain ‘address’ for MNCs, says CM at Tata’s ₹9,000-cr. auto unit

Chief Minister Stalin breaks ground for Tata Motors’ greenfield plant at Ranipet near Chennai; facility will have annual capacity to produce 2.5 lakh vehicles once it reaches full capacity over the next five to seven years, says the automaker

Tamil Nadu will remain the investment destination of choice for global companies, Chief Minister M.K. Stalin asserted on Saturday after laying the foundation stone for the ₹9,000-crore Jaguar Land Rover (JLR) and Tata Motors’ manufacturing facility in the industrial township of Ranipet.

Expressing confidence that the State would continue to attract overseas investors, Mr. Stalin said, “Tamil Nadu has been India’s capital in the automobile sector.

“Many global automakers like Ford and Renault Nissan have their manufacturing plants in the State,” he added.

Tracing Tata Group’s presence in the State, the Chief Minister said that the company had had a long relationship with Tamil Nadu as it had invested in diverse sectors in the State.

Be it information technology or the hospitality industry, Tata Group had had a visible presence in the State for many years, with Chennai hosting the group’s biggest IT delivery centre.

‘Jobs for women’

“Their [Tata Group] presence also means jobs especially for educated women. Here, I thank them [Tata Motors] for choosing Ranipet to set up the new plant as it will provide jobs for women in the region and will also help them to sustain their livelihood,” he said, adding that the State aimed to become a $1 trillion economy by 2030.

The Tata Motors’ new facility would produce next generation sports cars and SUVs for both Tata Motors and JLR, the British arm of the car maker, the automobile company said.

Production is expected to begin in a phased manner at the plant, which is expected to reach an annual capacity of 2.5 lakh vehicles, over the next five to seven years.

“We now intend to build our advanced vehicle manufacturing plant here using cutting-edge manufacturing technology and world-class sustainability practices,” said Tata Sons Chairman N. Chandrasekaran.

(With inputs from PTI)

Published - September 28, 2024 08:26 pm IST