Comments
Mahindra & Mahindra plans to set up an automotive plant in Tamil Nadu for which the Government has allocated land and a structured package of incentives.
The automobile manufacturer has an investment plan totalling Rs 1,800 crore, including a test track facility, an automotive plant at Cheyyar, and an R&D centre near Chennai.
Dr Pawan Goenka, President, Automotive and Farm Equipment Sectors, Mahindra & Mahindra Ltd, said the State Government has allocated over 450 acres. The company will invest Rs 1,200 crore for a 200-acre test facility and 250-acre automotive plant, including a tractor manufacturing unit in this facility at Thiruvannamalai district. However, the plans for the automotive plant are yet to be finalised, he said.
The test facility will include a track to try out the products coming off the R&D centre and all of Mahindra's products being developed elsewhere, he said
R&D facility
The company has invested Rs 600 crore in an R&D facility that has been established at Mahindra World City, near Chinglepet about 50km from Chennai.
Among the proposed investments are plans by BMW to expand its assembling unit here. However, according to officials, the company has sought additional time to bring in the investments. They declined to share details of the company's plans.
Package for dozen projects
These were among a dozen projects envisaging a total investment of Rs 24,230 crore, for which the State Government sanctioned a structured package of incentive and letters of support today. Mr A.V. Dharmakrishnan, Executive Director – Finance, Madras Cements, said the company is adding 2 million tonnes in production capacity and a 60 MW thermal plant at Ariyalur at a cost of Rs 940 crore; and expanding cement grinding capacity at Salem and RR Nagar, where it is also putting up a 25 MW thermal power plant.
Of significance were investments planned in the Southern districts, for which Tamil Nadu has announced a special package of incentives.
Sundareshwarar Alloys' investment covering alloy and stainless steel plant, foundry, forging and agro machinery unit will be spread over Madurai, Sivagangai, Dindigul, Tirunelveli and Tiruchi districts.
Zynergy Enterprises, will invest Rs 2,500 crore in the first phase in solar energy project covering the entire gamut of raw materials to solar farms, said company officials.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.