Michelin group, the world largest automotive tyre manufacturers will set up its first Manufacturing plant in India. The company has chosen Chennai to put up the plant.
The plant is expected to come up at Thervoy Kandigal in Thiruvallur district. Its about 50 Kms from Chennai; the plant is to set up at a budgeted cost of Rs 4500 Crores on an area of 290 acres. The plant is expected to present job opportunities for more than 1500 people.
An agreement to this effect has been signed by French President Nicholas Sarkozy and the prime minster of India Dr Manmohan Singh in Delhi on Monday.