The ford has given up its decision to sell the Chennai plant, Board Motors has canceled the agreement to sell its plant in Tamil Nadu to JSW Group.
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Ford Chennai plant: latest News
JSW led by Sajjan Jindal. The group had finalized a deal to buy Bord Motors' Chennai plant for nearly Rs 830 crore.
Depression, In this case, the board company has canceled this contract as it does not want to sell its factory. The manufacturing plant owned by Board Motors is spread over an area of 350 acres in the town of Gara Malai near Chennai.
In this case, due to the slowdown in the market after the corona virus, the board company decided to leave India in 2022 and stopped its production.
Subsequently, it sold its other manufacturing plant in Gujarat to a subsidiary of Tata Motors for Rs 725.70 crore.
Recently, JSW had finalized an agreement with the Group to sell its plant in Chennai. In this case, the board company has now withdrawn from that contract attempt.
No preference, Regarding this, a Board India spokesperson said, 'Board does not want to sell the only remaining factory in India considering recent developments.
“We are constantly exploring alternative routes for our company's manufacturing in Chennai. Also, there is nothing to share in this regard,' he said.