Mahindra mulls Rs 4,000 cr investment in Tamil Nadu

<p>Anand Mahindra, vice-chairman and managing director, Mahindra and Mahindra, today met with Tamil Nadu Chief Minister J Jayalalithaa to explore opportunities for setting up a manufacturing plant in the state. The company said Tamil Nadu is one of the potential states in the country for the company's proposed Rs 4,000 crore four-wheeler plant.

Pawan Goenka, President, M&M, who accompanied Mahindra said "We are looking to set up our next plant. We have come here to talk to the Chief Minister and officers on our desire to set up the new plant in Tamil Nadu and looking for land and whatever incentive package the government has. This is the first meeting on that. It is a very early evaluation of possibilities in Chennai."

The investment for this new plant will be to the tune of Rs 4,000 crore and Mahindra said, "Like we have done in Chakan, this will be probably the largest single investment in the automotive industry." But he also made it clear that other states will also be considered for this investment.

The investment would be over and above the investment committed for its proposed manufacturing and testing facility in Cheyyar, in Tamil Nadu.

According to earlier information, the company has plans to set up a facility in a 400-acre land in Cheyyar with an investment of around Rs 1,800 crore.

The company has recently launched its Research and Development centre, Mahindra Research Valley, at Mahindra World City, near Chennai. The R&D facility, set up with an investment of around Rs 650 crore, is expected to house all its new R&D projects.