Chief Minister M.K. Stalin on Tuesday called upon Samsung Electronics Co. Ltd to set up a semiconductor manufacturing plant in Tamil Nadu and assured the company of all support required for it.
Mr. Stalin also asked the electronics major to bring other such manufacturers to Tamil Nadu to set up their units here.
The Chief Minister was speaking after the company signed an MoU with the government to set up a new compressor manufacturing facility at Sriperumbudur. As part of the agreement, the company will invest ₹1,588 crore on the new plant.
Mr. Stalin said he was happy to learn that the company had now increased its investment to ₹1, 800 crore this year.
“I do not consider this increase in investment as a sign of growth of your company alone. It will also create new job opportunities and increase the State’s economy and manufacturing capacity,” he said. Mr. Stalin said through this investment, 600 persons would get employment.
“We have set a goal of making Tamil Nadu a $1 trillion economy by 2030. As part of this, I call upon Samsung to diversify and increase their manufacturing capacity in the State,” he said.
Ken Kang, president and CEP, Samsung Southwest Asia, said the new investment of ₹1,588 crore was a testimony to the company’s commitment to the people of Tamil Nadu who had been their long-standing partners since 2007. “This new compressor manufacturing facility will help us cater to the growing demand for Samsung’s innovative digital appliances across the country and also drive exports,” he said.
