CHENNAI: Tamil Nadu on Monday signed investment agreements worth nearly Rs 6,000 crore with Japan-based electronics major Minebea Mitsumi and aerospace manufacturer Aequs Group, as the state steps up efforts to position itself as a hub for semiconductors and high-value manufacturing.
The memoranda of understanding, signed in the presence of Chief Minister M K Stalin, together envisage investments of Rs 5,980 crore and the creation of around 8,400 jobs across semiconductor, electronics, aerospace and defence manufacturing.
Minebea Mitsumi, through its Indian arm NMB Minbea India Private Limited, has committed Rs 1,980 crore to establish a semiconductor and electronic components manufacturing facility in Tiruvallur district, on the outskirts of Chennai. The project is expected to generate direct employment for about 1,400 people.
The proposed facility will manufacture high-value products such as insulated-gate bipolar transistors (IGBTs), integrated circuits, motors and electrical components. The company also plans to set up a research and development centre as part of the investment. More than 40 per cent of the jobs created are expected to be for highly skilled personnel, underlining the state’s push to move up the electronics value chain.
Industries Minister TRB Rajaa said the investment would strengthen Tamil Nadu’s precision engineering and electronics ecosystem while deepening its integration into global supply chains.
Separately, Aequs Group has signed an MoU to invest Rs 4,000 crore to develop an aerospace and defence manufacturing cluster at the SIPCOT industrial park in Shoolagiri, Krishnagiri district, near the Karnataka border. The project is expected to create around 7,000 jobs.
The Aequs facility will focus on manufacturing aircraft engine components, gearbox parts and other precision-engineered products for the aerospace and defence sectors.
The company already supplies components to global aerospace and defence original equipment manufacturers, and the Tamil Nadu investment is expected to expand its domestic manufacturing footprint.
The Industries Minister said the state’s emphasis was not only on attracting investment commitments but also on ensuring timely execution, employment generation and stronger linkages with global supply chains.