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Old 11th November 2009, 13:42   #1
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Default M&M plans Rs 1,500cr car factory in Cheyyar

Hi, Came across this piece in ET-

M&M plans Rs 1,500cr car factory in Cheyyar
TK Rohit & M Gunasekaran, TNN 11 November 2009, 07:34am IST

CHENNAI: A year after Mahindra & Mahindra pulled out of its joint venture with global majors Renault and Nissan to produce cars at Oragadam, the

Indian utility vehicle major is all set to re-enter Tamil Nadu by driving further south to set up a car plant in Cheyyar, about 100km from Chennai, in Tiruvannamalai district.
The investment, if it materialises, will be the second big ticket investment in Cheyyar after global shoe major Nikeís manufacturing unit, which was inaugurated in August. M&Mís plans in Cheyyar are likely to spur automotive investments in the area.
ďThe state government will allot about 400 acres for the project. The modalities are still being worked out and an MoU with M&M will happen in two months. They (M&M) will invest about Rs 1,500 crore for the car project,Ē state government sources said.

Source: M&M plans Rs 1,500cr car factory in Cheyyar - Chennai - City - The Times of India

Does this have any significance in view of the strained ties with Renault as well as for new launches?
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