Chennai, June 1 (IANS) Automobile major Mahindra and Mahindra (M&M) plans to build a vehicle plant at an outlay of Rs.4,000 crore in Tamil Nadu, a top company official said.
Anand Mahindra, vice chairman and managing director, along with other officials, met Chief Minister J.Jayalalithaa on this Friday.
Speaking to reporters here after the meeting, Mahindra said: "We are on an exploratory visit. The meeting is to discuss an exploration for a new investment for an automotive plant."
He added the company is looking at other states for investment as well.
According to him the proposed investment will probably be the single largest investment in the automotive sector.
M&M President (Automotive Business) Pawan Goenka said the meeting with the chief minister was the first "and we are looking for land and the incentive package that the state can offer".
He said the investment for the proposed plant will be around Rs.4,000 crore.