Ashok Leyland, Nissan sign MoU with Tamil Nadu government

Tue. September 09, 2008; Posted: 10:41 AM

Sep 09, 2008 (Datamonitor via COMTEX) -- ASQKF | Quote | Chart | News | PowerRating -- Ashok Leyland and Nissan Motor have signed a memorandum of understanding with the government of the Indian state of Tamil Nadu for acquiring 380 acres to locate the facilities of their joint venture companies at Pillaipakkam in Chennai.

The integrated plant will be utilized to set up the vehicle and powertrain manufacturing facilities, and a technology development unit for the three companies of the joint venture that was formed in May 2008.

The working of these companies has already been initiated and the joint venture is on course to roll out the first vehicle by 2010-11.

Exports are expected to account for 20% of the first phase capacity of 100,000 light commercial vehicles. Ashok Leyland has also announced its expansion plans in respect to their mine-detection vehicles capacity under the memorandum of understanding (MoU) with the government of Tamil Nadu.

The company has committed further investments at Ennore, Hosur and new locations, including a green field site near Chennai. The combined investments for the two projects will be over INR40 billion. The new facilities are expected to create more than 4,000 new jobs.

Andy Palmer, corporate vice president of light commercial vehicle business unit at Nissan, said: "With the acquisition of the land in Tamil Nadu, we can now start the construction of the two manufacturing sites for vehicles and engines and we look forward to co-operating with our partner, Ashok Leyland, for a frugal yet high quality vehicle production."

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