CHENNAI: During Chief Minister C Joseph Vijay’s official visit to the United Kingdom, a Tamil Nadu state delegation signed multiple agreements in London on Monday, securing investment commitments worth Rs 12,300 crore.
The projects span key sectors, including advanced manufacturing, electrical equipment production, and Global Capability Centres (GCCs), and are expected to create approximately 10,000 high-value jobs across the state.
A major part of the investment comes from Samvardhana Motherson International Ltd, which, alongside its European and UK joint venture partners, signed a Memorandum of Understanding (MoU) to invest Rs 11,000 crore. The mega-project is expected to create nearly 7,000 employment opportunities for the TN workforce.
The MoU was signed by Barrie Painter, Global Head, Marketing and Communications, Samvardhana Motherson International Group, and Deepak Jacob, Managing Director, Guidance, Tamil Nadu government.
The proposed investment will cover design, engineering, manufacturing, assembly and logistics facilities and is expected to strengthen Tamil Nadu’s position as a hub for advanced manufacturing, engineering and automotive-related activities.
The Motherson commitment is the first major investment announcement from London since the CM arrived in the UK capital as part of his visit to attract investments to TN.
European auto parts maker submits LoI for Rs 3K cr investment
Tamil Nadu also signed an MoU with Ernst & Young (EY) for establishing and operating a GCC on behalf of a UK-headquartered global telecommunications company. The centre involves an investment of around Rs 1,000 crore and is expected to create more than 2,000 high-value jobs.
The GCC will come up along Mount-Poonamallee Road in Chennai, one of the three corridors identified under the newly announced TN Global Capability Centres Corridor and Development Programme. The other two corridors are Pallavaram-Thoraipakkam Radial Road and Rajiv Gandhi Salai (OMR).
Industries Minister Keerthana said the GCC announcement validated the state government’s efforts to position TN as a global hub for high-value services and knowledge-driven industries. She said the three GCC corridors were designed to create an ecosystem that global firms need to establish and scale up operations in TN.
Meanwhile, Sweden-based Sigma Technology Group, an engineering and digital consultancy, is expanding its existing GCCs in Chennai and Tiruchy through its Indian arm, Zriya Solutions. The expansion is expected to create 600 high-value jobs in embedded systems, industrial automation and industrial digitalisation.
UK-based Wilson Power Solutions also signed an agreement to invest Rs 300 crore in Tiruvallur and create about 400 jobs, according to the CM’s Office.
The project will add to TN’s electrical equipment manufacturing capacity. Meanwhile, a leading European automotive components manufacturer submitted a Letter of Intent (LoI) to Deepak Jacob, expressing its preference for Tamil Nadu as the location for its proposed Rs 3,000-crore investment in India. The state government assured the company of all necessary support and cooperation to facilitate the proposed investment and establish its operations in Tamil Nadu.
Oppn flays CM’s UK visit over deal with Indian firm
Opposition parties, including the AIADMK and DMK, questioned the CM’s UK trip to sign an MoU with Samvardhana Motherson International Limited, an Indian-headquartered company, for an investment of Rs 11,000 crore in TN. DMK mouthpiece Murasoli also questioned the TVK govt over claims of attracting over `1 lakh crore investment in 100 days
