Mahindra & Mahindra Ltd has announced that the Company on March 31, 2008 signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to further boost their investment at its upcoming Chakan Greenfield project. The Company will invest an additional Rs 1500 crore to the already earmarked Rs 2500 crore. The total sum of Rs 4000 crore will be utilized towards the development and production of all vehicles slated to be rolled out from the proposed Greenfield.
M&Ms Greenfield at Chakan will house the manufacture of medium and heavy commercial vehicles, to be produced by joint venture Company Mahindra International and other products slated to hit both the domestic & global markets at strategic timelines.
A memorandum of understanding to this effect was signed on March 31, 2008 by Mr. V K Jairath, Principal Secretary (Industries), Government of Maharashtra and Dr. Pawan Goenka - President Automotive Sector, M&M in the presence of Mr. Vilasrao Deshmukh, Honourable Chief Minister, Government of Maharashtra, Mr. Keshub Mahindra Mahindra Group Chairman, Minister of Industry, Mr. Ashok Chavan, Mr. Johnny Joseph, Chief Secretary, and other dignitaries.
Mr. Keshub Mahindra, Chairman of the Mahindra Group, said M&Ms new investment at the upcoming Chakan facility, besides contributing to the states economic growth will also produce jobs for the locals in that region. We have always been at the forefront to add value to the Indian automobile industry. This project is in keeping with this tradition of mutual growth.
Dr. Pawan Goenka, President, Automotive Sector - M&M said, We are very pleased to expand our activity in the State of Maharashtra. We had decided to make the state the launch pad for our commercial vehicles. The additional investment plan of Rs 1500 crores, will allow us to create a world class manufacturing facility for 300,000 vehicles. The Chakan Greenfield is a significant step for us to contribute to the Indian automobile industry.
M&Ms Greenfield at Chakan will house the manufacture of medium and heavy commercial vehicles, to be produced by joint venture Company Mahindra International and other products slated to hit both the domestic & global markets at strategic timelines.
A memorandum of understanding to this effect was signed on March 31, 2008 by Mr. V K Jairath, Principal Secretary (Industries), Government of Maharashtra and Dr. Pawan Goenka - President Automotive Sector, M&M in the presence of Mr. Vilasrao Deshmukh, Honourable Chief Minister, Government of Maharashtra, Mr. Keshub Mahindra Mahindra Group Chairman, Minister of Industry, Mr. Ashok Chavan, Mr. Johnny Joseph, Chief Secretary, and other dignitaries.
Mr. Keshub Mahindra, Chairman of the Mahindra Group, said M&Ms new investment at the upcoming Chakan facility, besides contributing to the states economic growth will also produce jobs for the locals in that region. We have always been at the forefront to add value to the Indian automobile industry. This project is in keeping with this tradition of mutual growth.
Dr. Pawan Goenka, President, Automotive Sector - M&M said, We are very pleased to expand our activity in the State of Maharashtra. We had decided to make the state the launch pad for our commercial vehicles. The additional investment plan of Rs 1500 crores, will allow us to create a world class manufacturing facility for 300,000 vehicles. The Chakan Greenfield is a significant step for us to contribute to the Indian automobile industry.
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