Date:01/04/2008 URL: http://www.thehindu.com/2008/04/01/stories/2008040156261600.htm

Business

Tata Motors to invest Rs. 6,000 cr.

Special Correspondent

MUMBAI: Tata Motors on Monday signed a memorandum of understanding (MoU) with the Maharashtra government. This will facilitate the proposed expansion of manufacturing plants and the setting up of vehicle testing facilities in Pune.

The company will invest about Rs. 6,000 crore over four to five years in its existing plants which will increase its capacity by about 40 per cent to around six lakh vehicles annually. It is also setting up vehicle testing facilities in Pune. The investments will generate direct employment of an additional 1,500 numbers at full capacity. Commenting on the MoU, Ratan Tata, Chairman, Tata Sons and Tata Motors said, ``this MoU with the Government of Maharashtra is a step towards realising Tata Motors’ plans to augment capacity at Pune plants to meet ever increasing demands both in India and abroad. It also facilitates the setting up of vehicle testing facilities in Pune.”