To commit investment of Rs 2000 crore in Mahindra Research Valley
Mahindra & Mahindra announced that the Company is signing an MOU with the Government of Tamil Nadu wherein it commits to invest Rs. 2,000 crore including its investments in Mahindra Research Valley (MRV), a new Test track for MRV and an automotive plant to meet the Company's future needs over the next 5 years.The Company could also increase the investment to Rs. 4,000 crore by 2022 for which it can decide over the next few years. While the MRV is located at Mahindra World City, Maraimalai Nagar near Chennai, the MRV test track and the new plant would be set up on about 450 acres of land at Cheyyar near Kancheepuram.
The MOU also provides details of the package of incentives that would be commensurate with the level of investment commitment.
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