Ashok Leyland, Nissan sign accord with TN Govt

Chennai, Sep 08 (UNI) Hinduja Group flagship company Ashok Leyland and Japanese automobile major Nissan today signed an agreement with the Tamil Nadu government for setting up of two manufacturing facilities in the state, involving a total investment of Rs 4,500 crore.

The two projects were being established to roll out 1.90 lakh light-range vehicles and one lakh medium and heavy commercial vehicles a year.

The state government signed a Memorandum of Understanding (MoU) with Ashok Leyland, which proposed to set up the two projects at Ennore in north Chennai and Hosur, where already it had units and at Pillapakkam in Kancheepuram district, an official release here said.

The investments being made by Ashok Leyland and Nissan was the biggest investment and when the projects becomes fully operational, they would provide direct employment to 4,500 people and indirectly to 13,500 people, the release said.

The MoU was signed in the presence of Chief Minister M Karunanidhi at the secretariat this morning.

On behalf of the state government, Principal Secretary (Industries) M F Farooki signed the MoU. Ashok Leyland Managing Director R Seshasayee and Nissan Vice-President Andrew Balmer, were the other signataries.

Besides the Chief Minister, Mr G P Hinduja and Mr T G Hinduja of the Hinduja Group and Mr Takashi Tarota of Nissan, were also present when the MoU was signed.

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