Tamil Nadu: Mahindra to invest 4,000 crore in 255 acre plant

Mahindra & Mahindra plans to invest Rs 4,000 crore into a new manufacturing plant in Tamil Nadu. News of the Indian automaker's plans to set up the plant came in early last year and the plant will largely focus on future models that the brand plans to roll out.

The amount will be invested in two stages that will spread out over a period of 7 years. The Tamil Nadu government has reportedly promised to allocate 255 acres of land in Cheyyar in Kancheepuram district for the proposed facility. This would make the new plant the brand's second largest after the plant near Pune, Maharashtra. The MoU for the project will be signed during the global investors meet in May this year.

Pawan Goenka, executive director & president of Mahindra's automotive & farm equipment sectors, said construction of the test track facility will begin after the land has been officially allocated. Development of the manufacturing facility will follow soon after. The group has been extensively testing out new models such as the S101 and U301 compact SUVs. These products are expected to be launched this year, so while their production may not begin in Tamil Nadu, a certain share of the manufacturing could be allocated there at a later stage. Other products that are expected to roll out from the plant include the W202 global MPV and P601 LCV.

Source: ET

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