TN pact with 5 auto majors to create 9,500 jobs

May 15, 2012 |

chennai

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Chief minister J. Jayalalithaa announced Monday her government had signed memoranda of understanding (MoUs) with five companies which would invest Rs 5,700 in the state to create direct employment for 9,530 people.

The MoUs with Daimler India Commercial Vehicles Private Limited, India Yamaha Motor Limited, Ashok Leyland-Nissan Motor Company Limited, Eicher Motors Limited and Philips Carbon Black Limited were signed in the presence of CM at the secretariat.

Ms Jayalalithaa said the government was examining proposals from various companies and would sign more MoUs in the coming days.

She said German carmaker Daimler had doubled its investment in the state. “Though Daimler had signed an MoU with the previous [DMK] government in 2008 to invest Rs 3,000 crore, it reduced the amount to Rs 2,000 crore in 2010.

Due to the pioneering steps taken by my government, the company has agreed to double its investment to Rs 4,000 crore.

The MoU was signed today,” CM said, adding that 3,000 direct jobs would be created due to this agreement.

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