CHENNAI: France-based tyre manufacturer Michelin Group today signed an MOU with Tamil Nadu government for setting up a Rs 4000 crore manufacturing
facility in Tiruvallur district near Chennai.
The facility would create direct employment for 1500 people, Michelin Africa-India-Middle East, president Prashant Prabhu told reporters.
"Michelin is extremely grateful to the state of Tamil Nadu for making it possible (for us) to have access to land and infrastructure to be able to build our factory," he said after exchanging documents with Chief Minister M Karunanidhi and state government officials at the Secretariat.
Michelin would manufacture radial truck and bus tyres and the plant would start operations in 2012.
Responding to a query, Prabhu said the factory would be built up in phases on 290 acres of land at Thervoy Kandigal in Thiruvalluvar district situated about 50km north of Chennai.
On production at the facility, Prabhu said it would be focused on serving the domestic market.
Prabhu said Chennai's connectivity and talent pool made them set up the facility, the company's first in India.
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