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PSA Peugeot Citroen To Build 4,000 Crore Plant in TN
PSA Peugeot Citroen is the latest carmaker to set its plant near Chennai after BMW, Hyundai, Ford, Renault and Nissan. PSA will be building its Rs.4,000 crore plant at Sriperumbudur. The initial production capacity will be about three lakhs per year.
An official release from the company said: “PSA has proposed to establish this Indian project as a 100% subsidiary of the parent company. After evaluating sites in various states, PSA has selected a site near Sriperumbudur, in Tamil Nadu."
PSA would be directly and indirectly employ 20,000 people at its plant. Further employment opportunities will be created by suppliers. The release also said a large number of auto-component manufacturers from France could also enter India.
PSA's high level delegation consisted of PSA Peugeot Citroen CEO China (Asian Operations) Gregoire Olivier, Peugeot Citroen India managing director Frederic Fabre, senior managing director Jitesh Gadhia who called on Tamil Nadu Chief Minister J Jayalalithaa and Industries Minister SP Velumani at the Secretariat.
Chief Minister J Jayalalith thanked the PSA executives for selecting Tamil Nadu for the project and assured them of the government's support for the project.
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