Peugeot Citroen to open a facility in Tamil Nadu

Published On Jun 30, 2011 12:53 PM By CarDekho

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Government release on Wednesday has brought French auto giant PSA Peugeot Citroen into lime-light which is all set to open its Indian facility, costing to Rs. 4000 crore, in Tamil Nadu. Sources have revealed that prior to Tamil Nadu, Andhra Pradesh and Gujrat were considered however in final discussion Tamil Nadu was chosen.

With the establishment of Tamil Nadu facility, PSA Peugeot Citroen will register itself in the list of top-notch automobile industries in India such as Hyundai India, Ford India, BMW India, Renault-Nissan, etc that already have their manufacturing plants, in the Industrial hub, i. e. Chennai.

As per the latest updates, this investment of 4000 crore will be the first major investment in the state, after the state elections, in which AIADMK has taken over the other political party DMK. Relevant sources have also reported that PSA Peugeot Citron officials have met Tamil Nadu Chief Minister J Jayalalithaa and have unveiled there prospects to her. Chief minister, has also shown her ecstasy for selecting Tamil Nadu and has promised to provide full support from the state government.

As per the official release, PSA Peugeot Citron is all set to open its Tamil Nadu facility at Sriperumbudur which can approximately hold three lakh cars per year, large enough to ply over both domestic as well as overseas demands. PSA Peugeot Citron has also announced that this Indian project will be a 100% subsidiary of the parent company.

The company is expected to render indirect or direct employment to approximately 20,000 people at this facility, it has also been speculated that the company will bring-forth large number of auto-component manufacturers from France.PSA Peugeot is the second largest car manufacturing industry having roots in Europe and holding sixth position all over the world. Sales statistics for the year 2010 speculated its sales turnover of US $67.30 billion (Rs 3,09,556 crore) and in addition to this PSA Peugeot holds 94th rank among the top-notch 500 companies.