Chennai: India’s leading motorcycle manufacturer Royal Enfield (a unit of Eicher Motors Limited) has decided to invest Rs 3,000 crore over a period of eight years in Tamil Nadu to develop new products. After the investment by the company, about two thousand direct and indirect jobs are expected to be created in the state. For this, the company has signed an agreement with the Tamil Nadu government during the Global Investors Meet held in Chennai. Royal Enfield CEO B Govindarajan exchanged documents with Tamil Nadu Industries Department Secretary V Arun Roy during GIM 2024 in the presence of Chief Minister MK Stalin.
Greenfield and brownfield projects will be established
As per the agreement signed with the Government of Tamil Nadu, an investment of Rs 3,000 crore will be used to set up greenfield and brownfield projects in the region, among other things. A release issued by the company said that this investment will be used mainly for new products, electric vehicles (EV) product development and capacity building. Also, any capacity addition for ICE (Internal Combustion Engine) will be done, as and when required.
Investment will prove to be a milestone
Royal Enfield CEO B Govindarajan said that Tamil Nadu has been our home for many decades, the base of our engineering, technology and manufacturing foundation. This strategic investment in Tamil Nadu is an important milestone for us at Royal Enfield. Major provisions of the MoU include infrastructural support and regulatory facilities. The government will also give priority to providing uninterrupted power supply and other essential infrastructure support. He said that we express our heartfelt gratitude to the Government of Tamil Nadu for their unwavering support and we look forward to partnering with the Government and creating a positive impact on the community and contributing to the overall economic prosperity of the State.
Manufacturing Plants at Oragadam and Vallam Vadagal
Let us tell you that India’s leading two-wheeler manufacturer Royal Enfield has manufacturing plants in Oragadam and Vallam Vadagal, which produce a series of its motorcycles. The release said that the upcoming expansion will not only strengthen Royal Enfield’s production capabilities, but will also contribute to the state’s position as a major automotive hub.