Hyundai Motor India, the subsidiary of Korean auto main Hyundai, has submitted the pre-feasibility report back to take up revamping and modernisation of its facility in Tamil Nadu at an outlay of INR 1,500 crore. The growth on the current facility at Irungattukottai close to right here would create an extra 155 new jobs and the plant dimension can be elevated to 7.21 lakh sq metre from the present 5.40 lakh sq metre. Hyundai Motor India has deliberate to broaden the manufacturing facility by including further 1.81 lakh sq metres of land on the manufacturing facility.
In response to the corporate, it has proposed to take up revamping and modernisation of its current manufacturing facility at Irungattukottai, Kancheepuram district in Tamil Nadu.
As per the Pre-Feasibility Report submitted by the automaker on Thursday, the manufacturing facility is unfold throughout an space of 538 acres and has the capability to provide 8.50 lakh vehicles each year.
“Hyundai Motor India as per the proposed revamping and modernisation plan, the built-up space would develop from the present 5.40 lakh sq metre to 7.21 lakh sq metre with out altering the manufacturing capability,” the report stated.
Noting that the present power of the present plant was about 18,706 staff, the corporate stated with the growth section of the manufacturing facility, the headcount is anticipated to barely enhance by about 155 folks.
“Hyundai Motor clarified that there wouldn’t be any further land space. The plot space of the mission web site is 21.78 lakh sq metre and whole constructed up space after growth can be 7.21 lakh sq metre (current is 5.40 lakh sq metre and proposed is 1.81 lakh sq metre),” it stated.
The growth is estimated to price about INR 1,500 crore and Hyundai Motor India would attain the overall plant built-up space of seven.21 lakh sq metre submit the growth, which is anticipated to be accomplished within the subsequent 5 years.
The development actions are anticipated to start after receipt of obligatory approvals, it stated.
Contemplating the rising demand for passenger vehicles inside the home market and abroad, the proposed growth would meet the market requirement, the corporate stated.
The mission would have a optimistic and long-term impression on the surroundings and in employment alternatives. Hyundai Motor India would additionally deliver optimistic adjustments by way of socio-economic growth by means of producing direct and oblique employment alternatives to the folks positioned close to the manufacturing facility, it added.
Hyundai Motor India presently operates 1,366 gross sales factors and 1,551 service factors throughout the nation. It retails hatchbacks, compact sports activities utility autos, premium sports activities utility autos and electrical SUVs in India. The corporate additionally ships its merchandise to 88 international locations throughout Africa, the Center East, Latin America, Australia and Asia Pacific area.
