Japanese 2-wheeler giant Yamaha is all set to make foray “very soon” into Tamil Nadu, which is looking at tapping Rs. 20,000 crore in six months from various investors.
Presenting the budget for 2012-3 in Tamil Nadu Assembly, Finance Minister O Pannerselvam said the government would sign agreements with Yamaha and many other firms.
“Memoranda of Understanding (including Yamaha) are expected to be signed very soon,” Mr. Panneerselvam said, adding that the state government was confident of attracting Rs. 20,000 crore of investment in the next six months.
Proposals in the advanced stage of approval were Yamaha, Eicher, Danfoss, Enfield, Philips Carbon Limited, Sundaram Clayton, TI Group, Saint Gobain, Sanmina—SCI and Nokia, he said, adding, discussions were at an advanced stage with another 11 companies to finalise their investment.
Tamil Nadu is home for many auto firms including BMW, Hyundai, Ford and Germany’s truck manufacturer, Daimler.
Though the state has many auto companies representing the 4-wheeler industry, Yamaha would be the second to set up base here. The first is Venu Srinivasan promoted TVS Motor Company, which has its facility in Hosur.