TN inks pact worth Rs 2,666 cr with three Fortune 500 firms
CHENNAI: The Tamil Nadu government signed MoUs with three Fortune 500 companies in the US on Tuesday for investment to the tune of Rs 2,666 crore in the state.
A memorandum of understanding was signed between the State government and Jabil Inc in the presence of Chief Minister MK Stalin in Chicago to set up an electronics manufacturing unit in Tiruchy with an investment of Rs 2,000 crore.
The investment by Jabil, a leader in providing electronics manufacturing services and solutions to major firms such as Apple, Cisco, HP and Dell, with manufacturing units in China, India, Malaysia, Mexico and Singapore besides the US, would generate 5,000 jobs, a release issued by the state government said.
As per the MoU signed with the government, Rockwell Automation would expand its manufacturing unit in Kancheepuram with an investment outlay of Rs 666 crore. The Milwaukee, Wisconsin-based Fortune 500 firm is one of the largest companies in the world in industrial automation and digital transformation.
The State government also signed an MoU with Autodesk, another US-based Fortune 500 MNC providing software products and services for architecture, engineering, construction, manufacturing, media, education and entertainment industries, to enhance the skills of Tamil Nadu’s youth and improve the competitiveness of MSMEs and startups.
Announcing the signing of the investment deals, Stalin said these were key investments secured for Tamil Nadu’s industrial progress. Investment by Jabil would create a new cluster for electronics manufacturing, while the MoU with Autodesk would develop the youth’s skills and boost MSMEs and startups, strengthening our overall industrial ecosystem, he added.
Since it embarked on the US trip on August 27, the delegation led by Stalin has so far signed MoUs worth Rs 4,350 crore with 14 global firms in San Francisco and Chicago.