T.N., Japanese firms sign 6 MoUs worth ₹818.9 cr.

T.N., Japanese firms sign 6 MoUs worth ₹818.9 cr.

Chief Minister M.K. Stalin and officials of Guidance Tamil Nadu and Japanese companies at the MoU-signing event on Monday. Special arrangement Special arrangement

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Tuesday, 30th May 2023
Page No. 6
Chennai Print Edition

The MoU with Mitsuba, entailing an investment of ₹155 crore, was to expand its plant at SIPCOT Gummidipoondi in Tiruvallur district, which is involved in the manufacture of spare parts for two- and four-wheelers. The one signed with Shimizu Corporation was to promote construction, civil engineering and allied industries in Tamil Nadu.

Kohyei signed an MoU for building a plant at an investment of ₹200 crore that will manufacture polycarbonate sheets – components used in roof structures and extrusion lines for electronic components – for use in the construction industry.

Sato-Shoji Metal Works will invest ₹200 crore to set up a plant to manufacture high-quality steel components used in the space, defence and construction industries. Tofle will invest ₹150 crore to set up a plant to manufacture stainless steel specialised flexible hoses that are used in steel plants and solar and semiconductor industries.

Earlier, Mr. Stalin urged Japanese industrialists to expand their investments in Tamil Nadu and invest in infrastructure development projects in the State, which could complement their projects in the manufacturing sector. Speaking at an Investment Conclave organised jointly with the Japan External Trade Organisation (JETRO) in Tokyo, he said most of the investments from Japan were primarily in the manufacturing sector.

The Tamil Nadu government was setting up various industrial parks, he said, and invited investments on that front as well. He appealed to investors to establish head offices in Tamil Nadu while setting up factories in the State.

Highlighting ‘Naan Mudhalvan’ – a skill development programme for school and college students, and the Tamil Nadu government’s intention to promote all industrial activities in the State, Mr. Stalin called upon investors to capitalise on these two factors.

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