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.
Keywords: Tamil Nadu budget, foreign investment
I just hope that this is not a farce like Hyundai, which has not done good for TN. Lots of subsidies for a completely automated plant. Make sure there are good lot of employment opportunities along with social responsibilities like schooling for children of employees, Hospitals, Tree plantations - just like BHEL Trichy!
Sounds good;
Any improvement on power front? Will these new projects get adequate power supply? Let the first priority be on promoting the power supply.
If you are planning for Yamaha or other manufacturing investments, please plan in the southern, north eastern regions. Let us stop the rural migration to the urban centres.
I find it strange that the Government and the interested companies are turning a blind eye towards the power shortage in TN. 8-12 hours of "load shedding" per day is equivalent to taking us back to the dark ages, and here the Govt. wants to setup more power hogging industries. Strange times we live in.
The Govt. must ensure atleast 75% of employees must be recruited only from local people/from Tamil Nadu to eradicate unemployment. If no suitable person available in the local area then the company may be allowed to resort to recruiting persons from outside.
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