The Indian automobile major Mahindra and Mahindra commonly called as M&M had made plans to build up a manufacturing plant at a the initial cost of Rs.4,000 crore in Tamil Nadu. One of the officials of the company gave the information on this plan. Recently, Mr. Anand Mahindra, who is the vice chairman and managing director of Mahindra and Mahindra, along with the other officials of the company, came to meet the Chief Minister of Tamil Nadu, J.Jayalalithaa to talk about this new project of the company on last Friday.
Mr. Anand Mahindra reported after the meeting that the Mahindra India is on the exploratory visit and the meeting was to talk about the exploration of a new investment for an automotive plant of the company. He further added that the company may look for the expansion plans in other states of the country as well. He claimed that the investment plans made by the Mahindra and Mahindra are the largest investments done in the automobile sector till date.
Mr. Pawan Goenka, who is the President of Mahindra and Mahindra, Automotive Business said that the meeting with the Chief Minister of Tamil Nadu was the first in the reference of investment. Also the Mahindra India is taking in to the consideration the points of land and the incentive package that the state can offer to the company for the project.The initial investments plans are of Rs. 4,000 crore. This expansion plan of the company may be related to the new variants and the new products, which the company is planning to launch soon. Another reason behind this investment plan can also be the increasing competition in the automobile market with the petrol and diesel variant cars comprising fuel efficient engines.