CHENNAI: The state government on Monday signed investment agreements worth nearly Rs 6,000 crore with Japan-based electronics major MinebeaMitsumi’s Indian arm NMB Minebea India Private Limited and Karnataka-based aerospace manufacturer Aequs Group, as the state steps up efforts to position itself as a hub for semiconductors and high-value manufacturing.
According to a release, the MoUs, signed in the presence of Chief Minister M K Stalin at the secretariat, together envisage investments of `5,980 crore and are expected to generate jobs for around 8,400 people across semiconductor, electronics, aerospace and defence manufacturing sectors.
MinebeaMitsumi, 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. The project is expected to generate direct employment for about 1,400 people, the release said.
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.
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, the Belagavi-headquartered Aequs Group 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. The project is expected to create around 7,000 jobs, the release said.
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 TN investment is expected to expand its domestic manufacturing footprint.