Chennai, Sep 6 (Representative) The Tamil Nadu government signed MoUs with threemore firms at Chicago in US committing a total investments of Rs 850 croreon Friday. In the presence of the Chief Minister M.K.Stalin, who is is Chicago as part ofhis second leg of his official visit to US to attract investments, an MoU wassigned with Lincoln Electric for an investment of Rs 500 crore for the expansionits research and development, and manufacturing unit in Chengalpattu. Another MoU was inked with Vishay Precision for Rs100 crore investment wassigned to establish a production facility for sensors and transducers in Kanchipuram.
Furthermore, a MoU with Visteon for Rs 250 crore investment was signed toestablish electronics manufacturing units in Chennai and Coimbatore. A total of Rs 850 crore of investments were signed through these MoUs, anofficial release here said.Tamil Nadu continues to attract investments in industries by developing worldclass infrastructure facilities such as industrial parks, R and D projects, and newinitiatives to attract foreign investment. These initiatives are helping Tamil Nadu progress rapidly in industrial productionwhile keeping pace with the fast-growing global technology advancements. The state, which is already a leading hub of production, is achieving newmilestones, becoming a key player in sectors such as Global CapabilityCentres (GCC) and research & development, contributing significantly tothe state’s growth.
Tamil Nadu, the second-largest economic state in India, aims to reach aUSD 1 trillion economy by 2030, as envisioned by the Chief Minister. As part of this plan, Mr Stalin, is on an official tour to the USA to attract moreindustrial investments and create numerous employment opportunities for theyouth of Tamil Nadu. During this tour, MoUs were signed with more than 10 leading global companiesin San Francisco and Chicago so far.