Schedule a Call Back
Sundram Fasteners signs MoU with Tamil Nadu govt for Rs 1,411 cr investment
Industry News- Jan 11,24
The planned investment spans up to 2027–2028 and will be used for capacity expansion of existing products, including components for electric vehicles.
Sundram Fasteners, one of the largest suppliers to OEMs and automakers globally, entered into a Memorandum of Understanding (MoU) with the government of Tamil Nadu for a proposed investment of Rs 1,411 crore during the Tamil Nadu Global Investors Meet 2024, Chennai.
The investment is proposed to be made in Sundram Fasteners Limited factories across Tamil Nadu situated at Padi; Mahindra World City, SEZ; Velappanchavadi; Gummidipoondi; Hosur; Aviyur, Madurai and Mittamandagapattu, Villupuram. Among the aforementioned, the investments made in Mahindra World City, SEZ fall under both the Industrial Policy and the EV Policy.
The planned investment spans up to 2027–2028 and will be used for capacity expansion of existing products, including components for electric vehicles. This strategic move solidifies the company’s commitment to the state's economic development, generating employment opportunities for over 1500 individuals in Tamil Nadu.
Arathi Krishna, Managing Director, Sundram Fasteners Limited said, “We have a supportive government that prioritises innovation and industrialization, making Tamil Nadu an attractive destination for investors. With this strategic investment, we are proud to expand growth opportunities and reach new milestones. We are grateful to the Government of Tamil Nadu for their unwavering support, which has played a crucial role in our success. As we move forward, we remain committed to producing and delivering high-quality products, creating a positive impact on our community, and contributing to the State's overall economic prosperity.”
Sundram Fasteners
Tamil Nadu
Tamil Nadu Global Investors Meet 2024
Chennai
Padi
Mahindra World City
Velappanchavadi
Gummidipoondi
Aviyur
Madurai
Mittamandagapattu
Villupuram
Arathi Krishna
Related Stories
Aerospace Defence
Garuda Aerospace Inaugurates Drone Battery Facility with DGCA Chief
Garuda Aerospace has inaugurated a drone battery manufacturing facility and a new academic block in Chennai, reinforcing its commitment to building a self-reliant and indigenous drone ecosystem in I..
Read moreMachine Tools & Accessories
Tsugami Inaugurates New Precision Engineering Facility in Tamil Nadu
The new infrastructure enables increased indigenous production of Tsugami machine tools.
Read moreMaterial Handling Equipment
Manufacturing to Drive 46% of Industrial Leasing by 2027: JLL
JLL forecasts manufacturing leasing to reach 34 mn sq ft across top cities.
Read moreRelated Products
Automotive Oil Pump
AUTO COMPONENTS & ACCESSORIES
Kalpak Auto Pvt Ltd offers a wide range of
automotive oil pump.
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
