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Our Bureau

Chennai , Jan. 11

Naza Motors, a Malaysia-based automobile company, is setting up a $150 million (Rs 675 crore) car plant at Sriperumbudur, near Chennai, according to Mr Dato Seri Samy Vellu, Malaysia's Minister of Works.

According to a press release from the Confederation of Indian Industry, which quoted him, the project will provide direct employment to over 500 people and indirect employment to 700.

Spread over 200 acres, construction work is expected to start in three months and production in 18-20 months. The company will produce cars for the mass market at affordable rates.

The Naza Group of Malaysia has a car assembling plant and a motorcycle manufacturing plant, apart from a diversified interest in car trading. It is a leading importer of luxury and performance cars and is among the largest players in the automobile industry in Malaysia.

Naza Automotive Manufacturing Sdn Bhd has a plant in Gurun, Kedah, on a 140-acre facility with an assembly plant, test track, and vendors and suppliers.

According to the group's official Web site, Naza is a diversified group with a presence in the transport business, machine tools and parts, engineering, plantations, credit and leasing, watercrafts and hospitality industry.

More Stories on : Overseas Investments | Foreign Direct Investment | Cars | Tamil Nadu

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