8 months ago
Schneider Electric to invest ₹718 crore in Tamil Nadu
Schneider Electric, a big company that makes things for automation, is going to put a lot of money, ₹718 crore, into Tamil Nadu.
This money will be used to make their factories bigger in Chennai and Coimbatore and to build a new factory in Hosur.
They will make batteries and things that keep things cool.
This will help them make more things, sell more things to other countries, and give jobs to 663 people.
The leaders of Tamil Nadu and Schneider Electric were there to make this deal official.
Schneider Electric Group signed an MoU with the Tamil Nadu government to invest ₹718 crore in expansion activities.
The investment will expand smart manufacturing facilities in Chennai and Coimbatore and establish a new plant in Hosur.
The new plant will produce batteries and cooling solutions.
The investment is expected to create around 663 jobs.
The signing ceremony was attended by Tamil Nadu Chief Minister M K Stalin and other key officials.
- Who
- Schneider Electric Group
- What
- Investment of ₹718 crore in Tamil Nadu for expansion activities
- Where
- Tamil Nadu, India
- When
- December 18, 2023
- Why
- To expand operations, create jobs, and enhance supply chain capabilities
Key facts
- Company
- Schneider Electric Group
- Investment Amount
- ₹718 crore
- Location
- Tamil Nadu, India
- Jobs Created
- 663
- Expansion Areas
- Smart manufacturing facilities in Chennai and Coimbatore, new plant in Hosur
- Products
- Batteries and cooling solutions
- Key Attendees
- Tamil Nadu Chief Minister M K Stalin, Industries Minister T R B Rajaa, Chief Secretary N Muruganandam, Industries Secretary V Arun Roy, TIDCO Managing Director and CEO Darez Ahamed
Quotes
TRB Rajaa
Minister for Industries, Investment Promotion and Commerce, Government of Tamil Nadu
“It gives us great joy when existing investors choose to expand in Tamil Nadu. It is proof that in Tamil Nadu, approvals are predictably fast, talent is available in abundance and industrial infrastructure is top notch. It was a pleasure to hear their leadership speak highly of their investment experience in Tamil Nadu, and we are sure there is more coming from Schneider Electric.”
thehindubusinessline.com
