Chennai: As per the budget speech of State Finance Minister O. Pannerselvam, major companies, including Yamaha, Daimler, Danfoss, Sanmina and Saint Gobain, have chosen Tamil Nadu to make investments and added there were about Rs 20,000 crore investments in the pipeline.
In continuation of that, the Rs. 4,400 crore state-of-the-art manufacturing facility of German truck maker Daimler was formally inaugurated on Wednesday by Tamil Nadu Chief Minister Jayalalithaa.
Ms. Jayalalithaa unveiled a plaque to mark the inaugural of the facility which is spread over 392 acres at the SIPCOT Industrial Park at Oragadam, about 55 km from Chennai.
Daimler India has planned to launch trucks between the six and 49 tonne category under the brand name, ‘Bharat Benz’.
Speaking on the occasion, Ms. Jayalalithaa said the presence of Daimler in the state strengthened “Chennai’s reputation as the Detroit of India. I wish Bharat Benz a big success.”
“Our government will soon sign MoUs with a number of companies including both vehicle and component manufacturers,” she said.
The Chief Minister also added that, “The new industrial policy, 2012, will accelerate the pace of growth of the manufacturing sector to 14 per cent.”
“Our government will soon announce industry-specific policies for automobiles and the auto-components industry, biotechnology, the aerospace industry and renewable energy with special focus on solar power generation,” she said.