Peugeot – Citroen, the French automobile giant and Europe’s second largest manufacturer has finally decided the location for its plant in India. For months the firm has been wandering from state to state in search for the most convenient and perfect location for its Indian plant and as per a statement from Government of Tamil Nadu official, the major has officially decided to setup its plant in Chennai, Tamil Nadu.
Ever since the commencement of the year 2011, the major has been in talks with officials from different states like Karnataka, Andhra Pradesh, Tamil Nadu, Gujarat and Maharashtra but nothing seemed to appeal to the manufacturer. Now after a loads of efforts and months of analysis, the company will begin its Indian foray from Sriperumbudur, located in proximity to Chennai.
For the plant the firm is planning to invest no less than Rs.4000 Crore and once functional the same would be able to roll out a whopping 3 Lakh unit per annum. Most of the manufacturers in India have plant capacities near to a 1 Lakh but Peugeot-Citroen plans for as much as 3 times. It is believed that the manufacturer also wishes to use India as its export hub.
The plant will provide direct employment to 5,000 people along with an indirect employment estimate of 15,000 people.There is still no sign on which car it will choose to start its Indian journey but considering the recent launches in the nearby global markets, Peugeot 508 sedan could be the first choice for the Indian market.
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