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Ola signs MoU to set up world s largest factory in Tamil Nadu
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Tamil Nadu signs 18 MoUs worth Rs 20k crore investment, to generate 26,509 jobs
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Tamil Nadu CM signs 18 MoUs entailing ₹19,995 crore investments.
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Tamil Nadu CM signs 18 MoUs entailing ₹19,995 crore investments. Tamil Nadu Chief Minister Edappadi K. Palaniswami on December 14 signed 18 MoUs entailing investments to the tune of ₹19,995 crore with an employment potential for 26,509 persons.
One of the primary investors, the State has managed to attract in the time of the global COVID-19 pandemic is Ola Electric Mobility, which will set up an electric two wheeler manufacturing unit in Hosur with an investment of ₹2,354 crore. Once operational it will generate employment for an estimated 2,182 persons.
An MoU regarding this was signed between Bhavish Aggarwal, chairman and group CEO of Ola and Mr. Palaniswami in Chennai.
Tamil Nadu government on Monday signed 18 MoUs worth Rs 19,955 crore with an employment potential of 26,509 persons. Companies which signed the MoU include the Crown Group Of Companies, representing a Russian defence organisation, Ola Electric and Mahindra CIE among others. The MoUs were signed in the presence of Tamil Nadu Chief Minister K Palaniswami. Ola Electric will invest Rs 2,354 crore, Torrent Gas - Rs 5,000 crore, First Solar - Rs 4875 crore, SSEM - Rs 2,500 crore, Crown - Rs 2,500 crore, Tata Group s Voltas - Rs 1,001 crore and Mylan - Rs 350 crore among others.
Ola Electric Mobility has created a revolution in the India and a consumer friendly electric vehicle business model. The company recently acquired Amsterdam-based Etergo BV. The company has proposed to set up an electric two-wheeler manufacturing unit in Hosur, Krishnagiri District. The company plans to invest Rs 2,354 crore in ghe project, which has an employment potential of about 2,182 persons.
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Govt. signs 18 MoUs entailing ₹19,995 crore in investments
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Aiming high: Chief Minister Edappadi K. Palaniswami with industry representatives on Monday.
| Photo Credit:
S R Raghunathan
Govt. signs 18 MoUs entailing ₹19,995 crore in investments Chief Minister Edappadi K. Palaniswami on Monday signed 18 memoranda of understanding, entailing ₹19,995 crore in investments and with a potential to create 26,509 jobs in Tamil Nadu.
One of the investors that the State has managed to attract in time of the COVID-19 pandemic is Ola Electric Mobility, which will open an electric two-wheeler manufacturing unit at Hosur on an investment of ₹2,354 crore. Once operational, it would generate employment for 2,182 persons. The MoU was signed by Bhavish Aggarwal, chairman and group CEO, Ola, and Mr. Palaniswami.
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