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What is the story about?
Automation major Schneider Electric Group on Thursday, December 18, signed an MoU with the Tamil Nadu government to invest over ₹700 crore in its expansion activities.
According to a release, the MoU was signed in the presence of Tamil Nadu Chief Minister M K Stalin and entails an investment of ₹718 crore to expand operations in the state, creating around 663 jobs.
The investment will cover the expansion of Schneider Electric India Private Limited’s smart manufacturing facilities in Chennai and Coimbatore, and the establishment of a new plant in Hosur by Schneider Electric IT Business India Private Limited to produce batteries and cooling solutions, it added.
Schneider Electric has been operating in Tamil Nadu for nearly three decades.
The new investments are expected to strengthen the company’s local manufacturing base, boost exports, and enhance its supply chain capabilities.
The signing ceremony was attended by Industries Minister T R B Rajaa, Chief Secretary N Muruganandam, Industries Secretary V Arun Roy, and TIDCO Managing Director and CEO Darez Ahamed.
Also Read: Karnataka Assembly passes Social Boycott Prevention Bill
According to a release, the MoU was signed in the presence of Tamil Nadu Chief Minister M K Stalin and entails an investment of ₹718 crore to expand operations in the state, creating around 663 jobs.
The investment will cover the expansion of Schneider Electric India Private Limited’s smart manufacturing facilities in Chennai and Coimbatore, and the establishment of a new plant in Hosur by Schneider Electric IT Business India Private Limited to produce batteries and cooling solutions, it added.
Schneider Electric has been operating in Tamil Nadu for nearly three decades.
The new investments are expected to strengthen the company’s local manufacturing base, boost exports, and enhance its supply chain capabilities.
The signing ceremony was attended by Industries Minister T R B Rajaa, Chief Secretary N Muruganandam, Industries Secretary V Arun Roy, and TIDCO Managing Director and CEO Darez Ahamed.
Also Read: Karnataka Assembly passes Social Boycott Prevention Bill
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