Pawan Goenka appointed Chairman of new JV company

Chennai, Feb 26 (UNI) Dr Pawan Goenka has been appointed Chairman of the new Joint Venture company promoted by auto majors Mahindra and Mahindra, Renault and Nissan.

This was announced by Mr Keshub Mahindra, Chairman of Mahindra and Mahindra Ltd at a press conference here today.

Mahindra and Mahindra would hold 50 per cent equity in the JV, while the balance would be held by the other two companies.

The JV has been formed to establish a utility vehicle and car manufacturing facility with an initial investment of Rs 4,000 crore at Oragadam SIPCOT Industrial Park near here, which would be India's biggest vehicle manufacturing centre at a single location.

A Memorandum of Understanding (MoU) to this effect was signed today in the presence of Chief Minister M Karunanidhi.

Dr Pawan is the President, Automotive Sector, Mahindra and Mahindra.

He has been conferred with the outstanding international advisor award by SAE in 1997 and Burt L Newkirk award in 1987 by the American Society of Mechanical Engineers for his contribution to the field of tribiology.

Besides he was also presented the extraordinary accomplishment award from General Motors in 1986.

UNI