Mahindra & Mahindra will invest Rs 15,000 crore in Chhatrapati Sambhajinagar and Nashik, creating up to 10,000 jobs. The company also plans a Rs 15,000 crore investment over 10 years to build its largest manufacturing plant in Nagpur.
Mahindra's Rs 15,000 Cr Investment Boosts Jobs
Maharashtra Chief Minister Devendra Fadnavis on Friday said the investment of Rs 15,000 crore by Mahindra & Mahindra in Chhatrapati Sambhajinagar and Nashik will create multiple jobs with as many as 6000 people to get employment in the three-wheeler industry.
"Mahindra & Mahindra, a company in the automobile sector, will invest Rs 15,000 crore in Chhatrapati Sambhajinagar and Nashik. This will create many jobs. Significant investment has been made in the auto sector through this programme. Ten thousand people will get employment in the three-wheeler industry. 6000 people will get employment in this," Fadnavis said while addressing the media at the event.
New Manufacturing Hub in Nagpur
The company plans to set up its largest-ever manufacturing plant for cars and tractors in Nagpur. The company is set to invest Rs 15,000 crore over the next 10 years to build this facility. The announcement was made at the "Advantage Vidarbha" event in Maharashtra.
State-of-the-Art Automotive Facility
"The state-of-the-art facility will be developed across an area of 1500 acres in Vidarbha, complemented by a 150-acre supplier park in Sambhajinagar," Mahindra Group said in a statement. The automotive facility will support Mahindra Auto's next-generation platforms, including the NU_IQ architecture, and will be capable of manufacturing vehicles across multiple powertrains -- ICE, EV and future technologies--for both domestic and global markets.
CM Fadnavis on Regional Growth
Fadnavis also said the investment is a "strong endorsement of the state's robust industrial ecosystem." He added that the project will create many jobs and help the Vidarbha region grow faster.
Supplier Park to Bolster Local Manufacturing
Mahindra is also building a 150-acre supplier park in Sambhajinagar. This park will make parts for the new Nagpur plant and the company's existing factories in Chakan and Nashik. This move is intended to help the company work more closely with its partners and make more components locally.
(ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)