Technip wins contract for Indian car plant

Paris: Technip TPS, the buiding and infrastructure engineering unit of French oil services company Technip has won a managing consultant contract from Renault Nissan and Mahindra for the construction of a car plant in Chennai, India.

Technip gave no financial details, but a spokeswoman at the company said that the contract was “rather modest" and that the three car makers were expected to invest around $541.5 mn (Rs2166 crore) in the factory project.

This would give a further fillip to the domestic industry based in South India and push up employment opportunities. Many international companies are preferring to set up plants in this region.

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