NEW DELHI: Taiwan based Delta Electronics will be investing Rs 4,000 crore in Krishnagiri to set up an electronics hardware plant. The plant will come up in 120 acres of land and the production will start from the second quarter of 2020.
It is learnt that Delta was planning to invest in a neighbouring state but found the conditions in Tamil Nadu favourable and shifted to open a plant here, said executive vice chairman of Industrial Guidance Bureau, M Velumurugan.
“The plant will be set up in two phases. We will be constructing a domestic plant in 60 acres of land and on parallel lines, we will be building a plant in another 60 acres of land for exports,” said Hsieh Shen Yen, president, Delta Electronics Thailand.
In the first phase, 28 acres will be allocated for the Special Economic Zone and the remaining 32 acres for domestic tariff area, said Yen.
The products which could be churned out from the plant will include small mobile chargers, large inverters etc, he said.
Meanwhile, Schwing Stetter India, one of India’s leading concrete equipment manufacturers, signed a Memorandum of Understanding with the Tamil Nadu government. As per the MoU, Schwing Stetter India has committed an immediate investment of Rs 237 crore in a new plant in Cheyyar on SIPCOT land and will be scaling it up to Rs 350 crore over a period of four years.
The state government is giving the land through SIPCOT on a 99-year lease. The facility will be spread over 53 acres of SIPCOT land and will be used for producing truck-mounted concrete boom pumps, self-loading mixers and XCMG road machinery. Schwing Stetter India has also committed to employ 200 personnel over the investment period of four years.
The new unit, is a step towards strengthening Schwing Stetter’s commitment to the Indian market and focus to meet the emerging infrastructure boom in India and export potential in Asia and African markets.