INDIAN FIRMS PLAN AUTO PLANTS IN NIGERA

Less than three months after the announcement of the National Automotive Industry Development Plan, two vehicle manufacturing companies from India have indicated interest in establishing plants in Nigeria.

The development was confirmed in a statement issued on Sunday by the National Automotive Council.

The move is also coming about two weeks after the Federal Government said it would encourage auto manufacturers to produce less expensive vehicle models in the country within the price range of N1.2m to N1.5m.

NAC gave the names of the two Indian firms as TATA Motors based in Mumbai and TVS Motor Company from Tamil Nadu.

The statement said the companies’ interests were disclosed to the Director-General, NAC, Mr. Aminu Jalal, when top management executives of the two firms visited the head office of the council in Abuja