Tata Motors laid the foundation stone of its new vehicle manufacturing facility in Tamil Nadu. Tata Motors Group will invest Rs 9,000 crore in this greenfield manufacturing facility. The company will manufacture next generation vehicles of both Tata Motors and JLR in the new plant. Tamil Nadu Chief Minister MK Stalin laid the foundation stone of Tata Motors' new manufacturing facility. The foundation stone laying ceremony of this facility took place at Panpakkam in the district, about 115 km from Chennai.

5,000 new jobs will be generated

 

This facility is expected to generate 5,000 new jobs. Apart from the CM, senior DMK ministers Durai Murugan, TRB Raja, Chief Secretary N Muruganandam and Tata Sons Limited Chairman N Chandrasekaran attended the Bhoomi Pujan ceremony. Speaking on the occasion, Tamil Nadu Chief Minister MK Stalin expressed happiness over Tata Motors' plan to set up a manufacturing facility in Tamil Nadu. Chief Minister MK Stalin said, "Tamil Nadu is the first investment destination not only for big companies operating in India but also for multinational companies." Share performance On Friday, the company's stock closed at Rs 989.90 with a decline of 0.33 percent. In the last one year, the company's stock has seen an increase of 61.20 percent.