VinFast gets 400 acres land for its first plant in India
Vietnam-based multinational automotive company, VinFast has been allotted about 400 acres at an industrial estate owned by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) in Thoothukudi for its first India plant. As per updates, the groundbreaking ceremony will be performed on 25th February.
This new plant will come up in an area of 380 acres at Silanatham SIPCOT for which the government has given in-principle approval for the allotment of land. The firm has committed to invest USD 500 million Rs 4,000 crore for the first phase of the project over five years and the amount could go up to Rs 16,000 crore.
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