Chennai: With an investment of Rs 4,500 crore, Renault Nissan Automotive India Pvt Ltd inaugurated a new passenger vehicle plant at Oragadam situated about 45 km away from Chennai.
After formally, unveiling a plaque to mark the inauguration, Tamil Nadu State secretary for Industries Farooqui said “this project will not only provide for trade and investments but also for creation of job opportunities”.
“Last year the state recorded 9% growth in this sector and this year we are expecting it to be another 4%,” he said.
The entire 800 acres of land where the plant is currently situated has been handed over to the Automobile majors.
Nissan Motor Company Ltd Corporate Vice-President Shohei Kimura said that the facility will have an annual production capacity of 400,000 and will produce vehicles for export and the local market for both Renault and Nissan.
“The new project is a tangible result of the strength and success of the Renault-Nissan alliance, and a clear indicator of Renault-Nissan’s long-term strategy for this important market”, he said.
Expressing eagerness to deliver their products through this new plant, Kimura later told reporters that the first models are to be launched by 2010.
Initially, new generation entry level Micra and various new models will be produced on the new platform" Kimura said. If required, they might double the plant’s capacity in future, he said.