On Monday, four major auto companies signed Memorandums of Understanding with the government of Tamil Nadu state to invest at least Rs 5,700 core (US$1.05 billion) and create some 9,530 jobs in the region. In addition, carbon black maker Phillips Carbon Black exchanged documents with the government for setting up a Rs 350 crore (US$64 million) carbon black plant in the SIPCOT Industrial Park at Thervoykandigai in Thiruvallur district. The plant will create 230 new jobs.
The MoUs with Daimler India Commercial Vehicles, India Yamaha Motor, Ashok Leyland-Nissan Motor Company, Eicher Motors and Philips Carbon Black were signed in the presence of Chief Minister J Jayalalithaa.
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