Ambimama - India

BMW parks finally in Chennai
German car major BMW decided to set up its $40 million manufacturing facility plant in Mahindra city at Maraimalai Nagar near Chennai and will commence commercial production in the third quarter of 2006.

Ford, which invested $700 million in a greenfield venture again at Maraimalai Nagar, the other big ticket investments attracted by Chennai include Hyundai’s $1.1 billion and Hindustan Motors which produces Mitsubishi Lancer. An eight-member high-level team from Germany led by Norbert Reithofer, director of the BMW group, called on Tamil Nadu chief minister J Jayalalita to confirm the group’s decision to set up the assembly line.

The strong presence of a component supplier base and presence of other big players helped swing the company’s decision in Chennai’s favour. Besides, the BMW brass also considered factors like supply of skilled labour

Research Park by IIT – to be completed by 2006
An Indian Institute of Technology is set to enter industrial Research and Development arena with IIT, Madras, today unveiling its plans to establish a research park, a non-profit firm, here.

The proposed “IIT Madras Research Park” had already received sanction from the Union Human Resources Development Ministry and would be completed by December 2006.
A blue print for the proposed park was getting ready and the new firm would create space for students and faculties in the R & D area.

Tamil Nadu Government had allotted 6.89 acres near the Tidel Park close to the IIT. Space in the proposed research park could be leased to companies in the IT, telecom, biotechnology and manufacturing sector.

An underground passage would be built to connect the proposed park with the IIT.