Tamil Nadu govt likely to see investments worth Rs 36K-cr

Tamil Nadu is seeing investments flow in. The government has signed MoU's worth Rs 7850 crore today and this is just the beginning. CNBC-TV18's Swathi Narayanan reports.

Auto majors Ashok Leyland and Nissan will jointly invest in a facility for light commercial vehicles. Ashok Leyalnd will also increase its capacity for medium and heavy commercial vehicle.
Both of these together will entail an investment of over Rs 4,000 crore.
"We had identified the greenfield site and acquired it -- Pillaipakkam. That's where the light commercial vehicle (LCV) project would be launched," K Sridharan, CFO, Ashok Leyland told reporters.
Yamaha is the other auto manufacturer that has shown interest in Tamil Nadu. The company will invest Rs 1,500 crore in a new facility that will initially have capacity four lakh units and this will be increased to 18 lakh units by 2018.
Hiroyuki Suzuki, MD & CEO, India Yamaha Motor says the company’s priority target is scooter. He says the new plant production capacity will be 1.8 million units.
Phillips Carbon Black and Eicher Motors have also signed MoUs worth Rs 350 crore each with the Tamil Nadu government.
Daimler, which recently inaugurated its new facility in Tamil Nadu, will up its investments to Rs 4,000 crore from the current Rs 2,500 crore.
All in all, over Rs 7,000 crore of MoUs were signed by the Tamil Nadu government today and over Rs 36,000 crore of investment is expected flow in shortly.