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Peugeot-Citroen major French car set up in TN factory.
CHENNAI major French car Peugeot Citroen has strengthened the intention to reinstate the Indian market The company will invest about Rs 4,000 crore in an integrated manufacturing facility, which will be three lakh cars per year The plant went up in Sriperumbudur near Chennai region.
Peugeot left India in 1990 after poor results of its models 309 and agitations of the workers at its plant in Maharashtra The company was Scouting for locations to set up his factory and was shortlisted sites in Andhra Pradesh Sri City Tada and Tamil Nadu with this investment project, Chennai is expected to become one of the largest automotive manufacturing centers in the world.
Olivier Grégoire, CEO of Asian operations, Peugeot and Frederic Fabre, CEO of PSA Peugeot India project, as well as other senior officials met Tamil Nadu Chief Minister J Jayalalithaa on Wednesday and called for tax incentives for the project Support State can include the tax benefits and the allocation of land at subsidized rates Peugeot the project will provide direct employment to about 5000 people and indirect employment to another 15,000 people.
The state is already in the automobile biggies at home as Ford Hyundai Nissan Renault Daimler BMW and other world renowned manufacturers Moreover, the eco-system of a range of components manufacturers makes the state an ideal destination for the auto investment government officials say that Chennai and its adjoining areas installed capacity to make 2 AYear 2 million vehicles.
The tractor units coming from Mahindra & Mahindra in the factory of the group and Cheyyur Polysindo to Gangaikondan will only strengthen the grip of the state on automotive investment not only automobiles, but in the manufacture of tires too, the State is a leader It has attracted major investments from Michelin, JK tires, MRF, ATC and Apollo tires.
The total capacity in tire manufacturing in Chennai region exceeds 1,600 tons per day, making it the largest tire manufacturing center in the country and one of the most important in the world of R & D perspective also, the state already has research centers for Daimler, Renault -Nissan, Visteon, Mr Ashok Leyland and the combination of talent, the ecosystem and the port location makes Chennai the undisputed place for automotive investment.
There are bottlenecks such as poor energy situation and congested ports If these issues are addressed, it is possible also new secondary investments and new investments of existing players, said an analyst.
PeugeotCitroen major French car to set up the factory in TN The Times of India on mobile, French, staff, plant, India.