31 March, 2008
â€¢ Tata Motors will invest about Rs. 6000 crores over 4 to 5 years period in its existing plants and setting up vehicle testing facilities in Pune District.
â€¢ The investments will generate direct employment of an additional 1500 nos. at full capacity.
The MoU was signed by Mr. V. K. Jairath, Principal Secretary, Department of Industries, Government of Maharashtra (GoM) and Mr. Ravi Kant, Managining Director, Tata Motors, in the presence of Mr. Vilasrao Deshmukh, Honâ€™ble Chief Minister of Maharashtra, Mr. Ashok Chavan, Honâ€™ble Minister of Industries, and Mr Johnny Joseph, Chief Secretary.
Commenting on the MoU, Mr. Ratan N. Tata, Chairman of Tata Sons and Tata Motors, said, â€œThis MoU with the Government of Maharashtra is a step towards realising Tata Motors’ plans to augment capacity at Pune plants to meet ever increasing customer expectations and demands both in India and abroad. It also facilitates setting up of vehicle testing facilities in Pune. Maharashtra has always been an integral part of the company’s operations, and we are delighted with the support that the state government has extended to us.â€
Speaking on the occasion, the Chief Minister of Maharashtra, Mr. Vilasrao Deshmukh said, ‘The Tata Motorsâ€™ plants in Pune have contributed significantly to the development of the region in and around Pune. I am happy that Tata Motors will bring in fresh investment in its existing plants and also invest in vehicle testing facilities, both of which will lead to additional employment opportunities. The State Government will always remain committed to the development of the State and the welfare of its people through provision of employment opportunities and growth.â€
The Minister for Industries, Mr. Ashok Chavan, said, â€œTata Motors was among the first few automobile companies to invest in the State and has been an integral part of it ever since. The Company has chosen to further expand its facilities in the State, once again reiterating Maharshtra’s status as a top investment destination.â€
Mr. Johnny Joseph, Chief Secretary, Government of Maharashtra, expressed his view saying, â€œThe State Government is committed to attract more investment and regain the top position as an investment destination in the country once again. This MoU is a step in that direction.â€
Mr. V. K. Jairath, Principal Secretary, Department of Industries, added, â€œ We extend our whole-hearted support to Tata Motors and wish them success in this venture.â€
About Tata Motors
Tata Motors is India’s largest automobile company, with revenues of US $ 7.2 billion in 2006-2007. With over 4 million Tata vehicles plying in India, it is the leader in commercial vehicles and the second largest in passenger vehicles. It is also the world’s fifth largest medium and heavy truck manufacturer and the second largest heavy bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia and South America. Tata Motors and Fiat Auto have formed an industrial joint venture in India to manufacture passenger cars, engines and transmissions for the Indian and overseas markets. The company already distributes Fiat branded cars in India. Tata Motorsâ€™ international footprint includes Tata Daewoo Commercial Vehicle Co. Ltd. in South Korea; Hispano Carrocera, a bus and coach manufacturer of Spain in which the company has a 21% stake; a joint venture with Marcopolo, the Brazil-based body-builder of buses and coaches; and a joint venture with Thonburi Automotive Assembly Plant Company of Thailand to manufacture and market pick-up vehicles in Thailand. Tata Motors has research centres in India, the U.K., and in its subsidiary and associate companies in South Korea and Spain.