Hyundai Motor India Limited, the wholly-owned subsidiary of South Korean carmaker Hyundai Motor Company, announced a fresh investment of $300 million (Rs.1,600 crore) for a new engine plant and a press shop at its existing location at Sriperumbudur in Chennai.
Hyundai Motor India already has two car plants with a total capacity to produce around 630,000 units per annum. The company is all set to sign an MoU with the Tamil Nadu government on November 5. The new investment would create direct employment opportunity for 500 persons.
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