CHENNAI: The State government and Ford India on Thursday signed a memorandum of understanding to formalise an investment of $500 million to double the production capacity of the company’s plant at Maraimalai Nagar, about 40 km south of Chennai.
The investment will facilitate the increase of the annual capacity to two lakh cars. The establishment of an engine plant with a capacity of 2.5 lakh is also covered under the expansion plan.
Totally, about 1,000 jobs would be generated, according to a State government press release. M.F. Farooqui, Principal Secretary (Industries), and Michael Boneham, president and managing director of Ford India, signed the MoU at the Secretariat.
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