Tata Motors to invest Rs 6000 crore in its existing facilities in Pune
Tata Motors, Country's second largest car-maker, plans to invest Rs 6,000 crore over four to five years in its existing facilities in Pune.
The company on Monday signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to this effect.
The MoU was signed by Principal Secretary, Department of Industries, Government of Maharashtra (GoM) V K. Jairath, and Tata Motors Managing Director Ravi Kant.
Under the deal, the Government of Maharashtra, which has taken several initiatives to attract additional investment in the state, has agreed to provide all the necessary support for the expansion project.
The company expects that this investment would raise its capacity by 40% to up six lakh units. The investment is expected to generate additional direct employment of 1,500 at full capacity.
As part of the expansion, Tata Motors also plans to set up vehicle testing facilities in Pune.
Last week, the company acquired the Jaguar and Land Rover brands for 2.3 billion dollars.
Image Credits: dancewithshadows.com