Ashok Leyland, Nissan to set up plants in Tamil Nadu (Lead, changing dateline)September 8th, 2008 - 11:13 pm ICT by IANS
Chennai/New Delhi, Sep 8 (IANS) Commercial vehicle manufacturer Ashok Leyland Ltd and Japan-based Nissan Motor Co Monday signed a memorandum of understanding (MoU) with the Tamil Nadu government on setting up a light commercial vehicles plant in the state. The proposed plant, to be located in Kanchipuram near Chennai, will roll out 190,000 vehicles per annum.
Ashok Leyland will also build a 100,000-per-annum heavy commercial vehicles plant in the state.
As per the agreement, the projects would involve an investment of Rs.41.5 billion and would offer employment to 4,500 people.
State Industry Secretary M.F. Farooki, Ashok Leyland managing director R. Seshasayee and Nissan Motor vice-president Andrew Balmer signed the deal in the presence of Chief Minister M. Karunanidhi.
Meanwhile, the Hinduja group, to which Ashok Leyland belongs, is planning to build a 200-300 bed hospital in Chennai at an outlay of Rs.3 billion.