Pact with workforce for sustainable future of TN plant: Renault-Nissan MD

Franco-Japanese automotive alliance Renault-Nissan has concluded long-term agreement with employees considered as a landmark towards building of a sustainable and successful future for the Tamil Nadu plant, a top official has said.

Renault-Nissan Automotive India Pvt Ltd recently announced investments of USD 600 million about Rs 5,300 crore which would see roll out of six new models including two electric vehicles at its plant in Oragadam near Chennai to serve domestic and overseas markets.

"RNAIPL today announced the conclusion of a long term settlement agreement with its workers representative union -- Renault Nissan India Thozhilalar Sangam (employees union)", the company said in a statement.

The management and the union have jointly submitted the settlement before Madras High Court retired judge P Jyothimani in arbitration proceedings, following which an award has been passed in terms of settlement, it said.

Commenting on reaching the agreement, RNAIPL managing director Keerth