Malaysian firm to setup automobile industry in TN

Chennai, Jan 11 (UNI) Malaysian Minister of Works Dato Samy Vellu today said Nasa Motors, a Malaysian automobile firm, would be investing about USD 300 million by setting up automobile industry at Sriperumbudur near here.

Addressing a group of Indian business delegates here, the minister also mentioned that the company would acquire about 180 acres of land at Sriperumbudur from Tamil Nadu Government to setup the factory.

Mr Samy Vellu said Tamil Nadu Government as also keen in investing in the proposed automobile factory, where small and medium sized cars would be assembled.

However, the minister declined to give the price of the car but said the new model would give a touch competition to other existing automobile companies.

About 1,200 local people will get employment in the factory, he said adding the production was expected to start from April 2007.

UNI