Nissan Motors and its France-based partner Renault SA have signed an agreement to build a new plant in Chennai, India. The plan commits the companies to invest at least US$1.1 billion over the next seven years in a 50-50 joint venture. "We are eager to build and deliver products that meet the needs of the Indian market," says Carlos Tavares, Nissan executive vice president. "At the same time, we see India as another export base that will allow Nissan to be competitive in the global supply chain network." The plant is expected to be operational in 2010.
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