Ashok Leyland has set aside a capex of Rs 1,200 crore in Tamil Nadu, for taking up overall business expansion over the next three to five years.

Ashok Leyland Managing Director and CEO Shenu Agarwal signed the MoU with Industries Department Secretary V Arun Roy during the second day of the Global Investors Meet in the presence of Chief Minister M K Stalin.

A company statement said,"The investment of Rs 1,200 crore is assigned for strategic initiatives to drive innovation, technological advancements and overall business expansion."

"This commitment also reflects the group's vision for sustainable growth and competitiveness in the automotive sector," the statement added.