Chennai: During Chief Minister Vijay’s visit to London, multiple companies signed memorandums of understanding (MoUs) to invest in Tamil Nadu and expand their operations, with the total proposed investment pegged at ₹12,000 crore.
Samvardhana Motherson International Ltd said it will invest ₹11,000 crore in the state in partnership with companies from the UK and other European countries. The investment will cover design, engineering, manufacturing, assembly and logistics, and is expected to create around 7,000 jobs. The MoU was signed with the Tamil Nadu government’s guidance agency in the presence of the Chief Minister.
The state’s guidance agency also signed an MoU with Wilson Power Solutions to set up an initiative in Tiruvallur district with an investment of ₹300 crore, aimed at generating 400 new jobs.
Separately, an MoU was signed with Ernst & Young to establish a Global Capability Centre (GCC) in Tamil Nadu. The centre is planned in the newly announced GCC corridor on Mount–Poonamallee Road in Chennai, with an investment of ₹1,000 crore and more than 2,000 new jobs.
Sweden-based Sigma Technology Group will expand its global capability centres in Trichy and Chennai, focusing on embedded systems, electrification and digitalisation, and is expected to create 600 jobs. The signing event was attended by, among others, India’s Ambassador to the UK, Kumaran Periasamy.
