Peugeot likely to open plant in Kancheepuram

While highlighting the official reasons for the Kia project not taking wings in Tamil Nadu, the government machinery has refuted the charges made against its inaction.

Drawing attention to the key projects, a government release said, “PSA Peugeot Citroen, France, is currently planning to establish an integrated manufacturing facility in Kancheepuram District and Hosur with the creation of three production facilities. The initial investment envisaged in the three facilities will be about Rs 3,000 crore. This investment is further expected to increase to Rs 4,000 crore in the vehicle and powertrain projects. The proposed employment is around 1,500 persons.” 

On the new investments too, the government countered that a slew of projects were in the pipeline with many new companies keen to invest in the state. These include Hyundai (expansion), Yamaha Musical Instruments, Xuzhou Construction Machinery Manufacturing Company, Vedanta, ITC Ltd (expansion), CEAT Tyres and Fruedenberg, Germany. An investment of Rs 15,000 crore is expected to pour into Tamil Nadu, that will create jobs for about 6,500 people.