Ford India to invest Rs.750 crore in Chennai plant
January 20th, 2012 - 6:49 pm ICT by IANS ( Leave a comment )Chennai, Jan 20 (IANS) Ford India, the Indian subsidiary of the US-based Ford Motor Company, would invest Rs.750 crore at its plant near here to roll out the new compact sports utility vehicle EcoSport this year.
Ford India’s President and Managing Director Michael Boneham, during a meeting with Chief Minister J. Jayalalithaa Friday, informed her about the company’s decision, said a statement issued by the Tamil Nadu government.
The fresh investment would create additional employment opportunities for about 400 people and the total investment by Ford India in Tamil Nadu after the AIADMK government came to power in the state had gone up to Rs.1,130 crore, the statement said.
Ford India set up its factory at Maraimalai Nagar near here in 1995 when Jayalalithaa was chief minister who had then offered the car maker attractive tax incentives.
The company has so far invested around Rs.4,500 crore in the assembly and engine plants and rolls out models like Figo, Fiesta Classic and Endeavour.
Last year, Ford India had decided to invest Rs.4,000 crore in Gujarat to set up its second plant in India.
- Ford mulls fresh investments, plant expansion in India - Apr 07, 2011
- Ford launches new SUV, to invest $142 million - Jan 04, 2012
- Ford India to benefit from economies of scale - Sep 20, 2011
- Ford India closes 2010 selling 83,887 units - Jan 01, 2011
- Ford to export Figo to Mexico, Middle East, North Africa - Mar 09, 2011
- Ford India to export Figo to Asia-Pacific markets - Jul 05, 2010
- Ford records growth in February sales - Mar 01, 2011
- Ford India's January sales zoom over four times - Feb 01, 2011
- Ford launches two new variants of Fiesta sedan - Jul 14, 2011
- Ford India to expand Figo's export market - Nov 02, 2010
- Ford's August sales up nine percent - Sep 01, 2011
- Tamil Nadu to have investment policy for auto sector - Feb 05, 2010
- Ford launches small car Figo with four variants - Mar 09, 2010
- Ford to invest $72 mn to expand engine plant - May 17, 2011
- Ford to start second shift to meet Figo demand - May 01, 2010
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