Home / Business and Economy / TN Secures Rs 5,980 Cr Investment
TN Secures Rs 5,980 Cr Investment
16 Feb
Summary
- Japanese firm MinebeaMitsumi to invest Rs 1,980 crore in semiconductor R&D.
- Aequs Group pledges Rs 4,000 crore for aerospace manufacturing.
- Investments to create 8,400 jobs in semiconductor and aerospace sectors.
Tamil Nadu has secured substantial investments totaling Rs 5,980 crore from two major companies. Japanese electronics giant MinebeaMitsumi has committed Rs 1,980 crore to establish a manufacturing and R&D center for high-value semiconductors, insulated-gate bipolar transistors, integrated circuits, motors, and sensors in Tiruvallur district. This facility is expected to create 1,400 jobs.
In parallel, the Aequs Group will invest Rs 4,000 crore to expand aerospace manufacturing capabilities in Krishnagiri district. The group plans to set up a specialized cluster for aircraft engines, gearbox components, and precision engineering parts, aiming to provide employment for 7,000 individuals.
These significant financial commitments, formalized through MoUs signed on Monday, are poised to create a total of 8,400 jobs. The initiatives are in line with the Tamil Nadu government's strategy to maintain its position as a leading industrial hub and generate opportunities for its youth and women.
