Chennai: The Tamil Nadu government on Thursday signed a MoU with CEAT Tyres for setting up a manufacturing facility at Maduramangalam village near the industrial hub of Sriperumbudur.
The project envisaged investment of Rs 4000 crore over 10 years and provide employment opportunities to over 1000 people in the manufacturing facility that would turn out tyres and allied products, a government statement here said.
It said the MoU was part of the “several initiatives” undertaken by the government “in the footsteps of Amma” (Jayalalithaa) to ensure prime position for Tamil Nadu in the industrial map of India.
The MoU was signed by state additional chief secretary (industries) K Gnanadesikan and CEAT managing director Anand Goenka in the presence of Chief Minister K. Palaniswami and Deputy CM Panneerselvam, besides the industries minister M.C. Sampath and senior officials at the Secretariat here.
