CHENNAI: Samvardhana Motherson International Ltd., along with its European and UK-based joint venture companies, will invest approximately Rs 11,000 crore in Tamil Nadu, creating around 7,000 employment opportunities, under an MoU signed in London on Monday in the presence of Tamil Nadu Chief Minister C. Joseph Vijay.
The MoU is the first major investment announcement from London after Vijay arrived in the UK capital as part of his visit to attract investments to Tamil Nadu.
The proposed investment will cover design, engineering, manufacturing, assembly and logistics facilities in Tamil Nadu.
The MoU was signed and exchanged by Barrie Painter, Global Head, Marketing and Communications, Samvardhana Motherson International Group, and Deepak Jacob, IAS, Managing Director, Guidance, Tamil Nadu government, in the presence of the Chief Minister.
The investment by the Motherson Group and its European and UK-based joint venture companies is expected to strengthen Tamil Nadu's position as a hub for advanced manufacturing, engineering and automotive-related activities.