The Hindu Business Line : BMW team briefs Jayalalithaa, plans to invest Rs 180 cr

Mr Norbert Reithofer, Board Member, BMW Group, calling on the Tamil Nadu Chief Minister, Ms J. Jayalalithaa, at the Secretariat in Chennai on Tuesday. — R. Ragu

Chennai , Aug. 30

BMW plans to invest Rs 180 crore to set up a car assembly plant in Chennai.

According to an official press release, an eight-member delegation from BMW led by Mr Norbert Reithofer, Board Member of BMW Group, briefed the Tamil Nadu Chief Minister, Ms J. Jayalalithaa, on BMW's plans here today.

BMW has selected a site in the Mahindra Industrial Park in Maraimalai Nagar, near Chennai, where it would make a long-term investment of over Rs 180 crore ($40 million). Its decision is based on a detailed evaluation of various sites and discussions with many State Governments.

Mr Reithofer indicated that BMW was awaiting certain approvals from the Centre. Once these are received, BMW would commence project construction at once and commercial operations in the third quarter of 2006, according to the release.

The delegation said that it chose Chennai for the favourable investment climate in the State, availability of skilled labour force, mature auto components industry and supporting infrastructure and logistics.

Ms Jayalalithaa assured the delegation of the State Government's support and cooperation, the release said.

The delegation from BMW included Dr Friedrich Eichiner, Senior Vice-President; Mr Anton Ruf, Senioer Vice-President; Mr Klaus Berning, Senior Vice-President; Mr Roland Kruger, Managing Director, BMW Asia Pte Ltd; Mr Peter Kronschnabl, General Manager; Mr Felix Toelke, General Manager and Mr Christoph von Tschirschnitz, General Manager.

The State Finance Minister, Mr C. Ponnaiyan; the Industries Minister, Mr Nainar Nagenthran, and senior officials were present on the occasion.

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