Stalin in US, 3 more MoUs committing Rs 850 cr investments, inked
06-Sep-2024 03:09 PM 8350
Chennai, Sep6 (Reporter) The Tamil Nadu government signed MoUs with three more firms at Chicago in US committing a total investments of Rs 850 crore on Friday In the presence of the Chief Minister M.K.Stalin, who is is Chicago as part of his second leg of his official visit to US to attract investments, an MoU was signed with Lincoln Electric for an investment of Rs 500 crore for the expansion its research and development, and manufacturing unit in Chengalpattu. Another MoU was inked with Vishay Precision for Rs100 crore investment was signed to establish a production facility for sensors and transducers in Kanchipuram. Furthermore, a MoU with Visteon for Rs 250 crore investment was signed to establish electronics manufacturing units in Chennai and Coimbatore. A total of Rs 850 crore of investments were signed through these MoUs, an official release here said. Tamil Nadu continues to attract investments in industries by developing world class infrastructure facilities such as industrial parks, R and D projects, and new initiatives to attract foreign investment. These initiatives are helping Tamil Nadu progress rapidly in industrial production while keeping pace with the fast-growing global technology advancements. The state, which is already a leading hub of production, is achieving new milestones, becoming a key player in sectors such as Global Capability Centres (GCC) and research & development, contributing significantly to the state’s growth. Tamil Nadu, the second-largest economic state in India, aims to reach a USD 1 trillion economy by 2030, as envisioned by the Chief Minister. As part of this plan, Mr Stalin, is on an official tour to the USA to attract more industrial investments and create numerous employment opportunities for the youth of Tamil Nadu. During this tour, MoUs were signed with more than 10 leading global companies in San Francisco and Chicago so far...////...
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