06-Sep-2024 03:09 PM
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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...////...