TN budget 2012: Rs 20K Cr sought from investors

Japanese two-wheeler giant Yamaha is all set to make foray "very soon" into TN as the govt hopes to tap Rs 20,000 Cr in 6 months from investors.

Chennai: Japanese two-wheeler giant Yamaha is all set to make foray "very soon" into Tamil Nadu as the government hopes to tap Rs 20,000 crore in six months from various investors.

Presenting the budget for 2012-13 in the Tamil Nadu
Assembly, Finance Minister O Pannerselvam said the government
would sign agreements with Yamaha and many other firms.

"Memoranda of Understanding (including Yamaha) are expected
to be signed very soon," Panneerselvam said adding the state
government was confident of attracting Rs 20,000 crore of
investment in the next six months.

Proposals in the advanced stage of approval were Yamaha,
Eicher, Danfoss, Enfield, Philips Carbon Limited, Sundaram
Clayton, TI Group, Saint Gobain, Sanmina-SCI and Nokia, he
said, adding, discussions were at an advanced stage with
another 11 companies to finalise their investment.

Tamil Nadu is home for many automobile companies including
BMW, Hyundai, Ford and Germany`s truck manufacturer, Daimler.

Though the state has many auto companies representing the
four-wheeler industry, Yamaha would be the second to set up
base. The first is Venu Srinivasan promoted TVS Motor Company,
which has its facility in Hosur.


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