The Hinduja Group will invest INR 1200 crore over the next 3 – 5 years for strategic initiatives to drive innovation, technological advancements, and overall business expansion.
Shenu Agarwal, MD and CEO of Ashok Leyland, the flagship of the Hinduja Group, exchanged a memorandum of understanding (MOU) to this effect on Monday with the Government of Tamil Nadu, at the Tamil Nadu Global Investors Meet in Chennai, the company said.
This substantial financial commitment not only underscores the company’s vision for sustainable growth but also outlines its comprehensive plans, spanning manufacturing, research and development, and critical business functions. The group is committed to creating employment opportunities for 500- 1000 people both direct and indirect, based on the work demand.
The Tamil Nadu Gobal Investors Meet has attracted a lot of investment from auto companies. Royal Enfield has also signed an MoU for a proposed investment of Rs 3,000 crore, over eight years, for brownfield and greenfield projects, at the summit.
