CHENNAI: Automakers Renault, its alliance partner Nissan Motor Co. and Hyundai Motor Co. face temporary factory closures in India due to growing unrest among workers concerned about rising COVID-19 cases.
Workers at Renault-Nissan’s car plant in the southern state of Tamil Nadu will go on strike on Wednesday because their COVID-related safety demands have not been met, a union representing the workers told the company in a letter on Monday.
Hyundai, meanwhile, has agreed to send its workers on five days of leave starting on Tuesday during which time its plant, also in Tamil Nadu, will remain shut, said E Muthukumar, president of the Hyundai Motor India Employees Union.
The unrest highlights the challenges companies face in India amid a huge wave of COVID-19 infections and a shortage of vaccines which is making employees more fearful.
Tamil Nadu is one of the worst hit states with more than 30,000 cases a day last week. The state, an auto hub known as India’s Detroit, has imposed a lockdown until May 31 but allowed some factories, including auto plants, to continue operating.
The five-day production halt at Hyundai’s plant comes after several workers briefly staged a sit-in protest on Monday before resuming work for the day, two union sources said.
“The management agreed to close the plant after workers expressed concerns over safety after two employees succumbed to COVID,” Muthukumar told Reuters.
Hyundai Motor India did not immediately respond to a request for comment.
The strike threat at the Renault-Nissan plant came ahead of a court hearing on Monday over allegations from workers that social distancing norms were being flouted and factory health policies did not sufficiently address the risk to lives.
“Due to unsafe working conditions and as the union demands have not been met ... members of this union will not report to work from the first shift on Wednesday,” the union said in a letter dated May 24, reviewed by Reuters.
It said workers would not return until they felt safe. The union represents about 3,500 workers at the plant.
Nissan, which owns a majority stake in the plant, declined to comment.
Renault-Nissan told an Indian court last week it rejected claims that COVID-19 safety protocols were being ignored at the factory, adding it needed to continue production to meet orders.
Renault-Nissan and Hyundai face shutdowns in India over workers’ COVID fears
https://arab.news/2qmxh
Renault-Nissan and Hyundai face shutdowns in India over workers’ COVID fears
- Workers at Renault-Nissan's car plant to strike on Wednesday because COVID-related safety demands have not been met
- Hyundai agreed to send its workers on five days of leave starting Tuesday
Closing Bell: Saudi main market sheds 85 points to finish at 11,098
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06.
The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.
Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).
Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.
Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30.
On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.
Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50.
On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.
The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.
The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.
The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session.
Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.
Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.
Tadweer shares last traded at SR3.80, up 2.70 percent.
