TN signs MoUs with US firms for Rs 2,666 crore
The TN govt signed a MoU with the electronic major in the presence of Chief Minister MK Stalin who has been in the US on a 17-day trip to garner fresh investments.
CHENNAI:CHENNAI: The Tamil Nadu government on Tuesday signed MoUs with three Fortune 500 companies in the US for investment to the tune of Rs 2,666 crore in the state.
An MoU (memorandum of understanding) was signed between the Tamil Nadu government and Jabil Inc in the presence of Chief Minister M K Stalin in Chicago on Tuesday for setting up an electronics manufacturing unit in Trichy with an investment of Rs 2,000 crore.
A leader in providing electronics manufacturing services and solutions to major firms such as Apple, Cisco, HP and Dell and manufacturing units in China, India, Malaysia, Mexico and Singapore besides the US, the investment by Jabil Inc in Trichy would generate 5,000 jobs, a release issued by the state government said.
Executive vice president of Jabil Inc Matt Crowley, senior director Nitu Sinha and P J Farrenkopf were present when the pact was signed between TN and the firm.
An MoU was signed by the Tamil Nadu government with Rockwell Automation for expanding its manufacturing unit in Kanchipuram with an investment of Rs 666 crore.
One of the world’s largest companies in industrial automation and digital transformation, Rockewell Automation, a Fortune 500 company, is headquartered in Milwaukee, Wisconsin, USA.
Blake Moret, Chairman and CEO of Rocketwell Automation, Robert Buttermore, Senior Vice President, Ed Moreland, Vice President, Government Affairs and Corporate Communication, and Mr. Muthukumaran Pichai, Director were also present during the signing of the investment pact.
The state government also signed an MoU with Autodesk, a 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 in the industrial ecosystem.
Jeff Kinder, Executive Vice President and Mr. Ken Foo, Vice President of Autodesk besides state industries minister TRB Rajaa, state industries secretary V Arun Roy and managing director of Guidance Tamil Nadu V Vishnu were also present during the event.
Chief Minister Stalin led delegation which left for the US on August 27 has so far signed MoUs worth Rs 4,350 crore with 14 leading global firms in San Francisco and Chicago.
In a message posted on his ‘X’ page, chief minister Stalin announced the signing of the investment pacts and said, “Key investments secured for Tamil Nadu’s industrial progress.” Investment by Jabil Inc would create a new cluster for electronics manufacturing and MoU with Autodesk will skill youth and boost MSMEs and Startups, strengthening our overall industrial ecosystem, the CM added.