CHENNAI: Hikoki Power Tools India, a subsidiary of Japan’s Koki Holdings, will invest Rs 700 crore in a new manufacturing facility at the SIPCOT Industrial Park in Mahindra World City, Chengalpattu. The plant is expected to generate 1,302 direct and indirect jobs. An MoU was signed on Thursday in the presence of Chief Minister MK Stalin during a review meeting on investment promotion and industrial development.
Industries Minister TRB Rajaa said the investment reflects Tamil Nadu’s rapid rise in high-value manufacturing and the state’s shift from assembly into advanced manufacturing. Hikoki, active in India’s power tools sector since 1996, had chosen Mahindra World City for a state-of-the-art facility, he added. The event was attended by Deputy CM Udhayanidhi Stalin, Koki Holdings’ global CEO Pratap Satyanarayana, and Hikoki Power Tools India executives.