Hyundai Motor India Limited, a 100pc subsidiary of Hyundai Motor Company Korea, has announced an investment of US$ 300 million for a flexible engine plant and a new press shop, apart from ongoing investments in new models. The press and engine shop will come up at the existing location at Sriperumbudur in Chennai. The company is all set to sign a memorandum of understanding (MoU) with the Government of Tamil Nadu on November 5, 2012. This investment will offer customers more diesel options across segments in the near future and create direct employment opportunity for 500 persons apart from significant indirect employment oppurtunities. Bo Shin Seo, Managing Director, Hyundai Motor India Limited said “Through this investment we strengthen our commitment to the state and the country. This investment will help us meet the growing demand of diesel vehicles in India and reduce the waiting period.” The proposed engine plant and other facilities will be set up within the premises of HMIL at Irungattukkottai in Chennai.
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