Renault Nissan Automotive India Pvt. Ltd. (RNAIPL) is a joint venture company set up by the Renault Nissan Alliance. In February 2008, the Renault-Nissan Alliance signed a MoU with Government of Tamil Nadu to set up a manufacturing plant at Oragadam, near Chennai with an investment of Rs. 45 Billion over a period of 7 years. On March 17, 2010, the Renault-Nissan alliance plant was inaugurated in a record time of 21 months since its groundbreaking ceremony in June 2008. RNAIPL thus achieved the unique milestone of starting operations in record time of 21 months from the date of signing of MoU. The Plant has an initial capacity of 2,00,000 units per year and can reach 4,00,000 units per year in full capacity in the future. Nissan's first locally manufactured global compact hatchback The Nissan Micra is manufactured at the plant and commercial production for the same began in May 2010.