Chennai, June 15 (IANS) Car maker Renault Nissan Automotive India Private Ltd on Wednesday said it has concluded three year wage agreement with its workers.
In a statement issued here, the company – a joint venture between Renault of France and Nissan Motor of Japan – said it has signed formally a three year Long Term of Settlement agreement with its employee representative union, the Renault Nissan India Thozhilalar Sangam (RNITS).
The agreement will be effective from April 1, 2016 until March 31, 2019.
With this agreement, the plant technicians will receive a salary increase of Rs 18,000 progressively over the next three years.
The Indian manufacturing facility located near here is one of the largest plants in the Renault and Nissan Alliance and started operation in March 2010.
The Alliance has invested Rs 61 billion till date and introduced 32 new Renault, Nissan and Datsun models and derivatives to its production line.
The plant caters to both domestic and international markets and has developed into India’s second largest car exporter with more than 600,000 units shipped to 106 countries since 2010.
Beginning of this year the factory reached the production milestone of one million cars and recently, started third shift operations in response to increasing demand for its products.