



Chennai, Jun 6: Renault Nissan Automotive India Pvt Ltd (RNAIPL) a 50:50 joint venture between Renault and Nissan Motor, on Friday hosted the ground-breaking ceremony for its new passenger vehicle plant at Oragadam, near Chennai. The plant is expected to begin operations in 2010. The facility will have an annual production capacity of 400,000 units and will produce vehicles for export and the local market for both Renault and Nissan. RNAIPL will be making an investment of a minimum of Rs 4,500 crore ($1.1 billion).
"This is an important day in Chennai for Renault, Nissan, our local employees and the community," said Shohei Kimura, managing director of RNAIPL after laying the foundation stone. "The new project is a very tangible result of the strength and success of the Renault-Nissan Alliance, and is a clear indicator of RNAIPL's long-term strategy for this important market."
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