Tamil Nadu Chief Minister MK Stalin announced on Friday that the state has finalized memorandums of understanding (MOUs) worth Rs 850 crores with three US-based companies: Lincoln Electric, Vishay Precision, and Visteon.
In a statement on social media platform “X,” Stalin highlighted the significance of these agreements, stating, “In the land of opportunities, every new dawn ignites fresh hopes. We’ve secured MoUs worth Rs 850 crores with Lincoln Electric, Vishay Precision, and Visteon, bringing us closer to realizing our vision. Through relentless effort and determination, we continue to turn our dreams into reality.”
Earlier this week, Tamil Nadu also secured a Rs 2000 crore MOU with Trilliant to establish a new manufacturing unit and a Development and Global Support Centre in the state. Additionally, Stalin reported productive discussions with Nike regarding expanding its footwear production in Chennai and with healthcare firm Optum about developing a talent pipeline in the state.
On Wednesday, Stalin signed an MOU with Eaton, a global power management company, for a Rs 200 crore investment to expand its R&D and engineering center in Chennai. Stalin further revealed that these agreements are expected to generate 500 new jobs. The state has also reached a pact with Assurant, a risk management solutions provider, to set up its first Global Capability Centre.
During his official visit to the United States, Stalin secured further investments aimed at enhancing the state’s economic prospects. On August 31, 2024, an agreement was signed with Ohmium for a Rs 400 crore investment in a new factory in Chengalpattu district focused on producing electrolysers and green hydrogen, creating 500 job opportunities.
The CM’s visit also included meetings with senior officials from Apple, Google, and Microsoft. An MOU was signed with Google to establish AI labs in Tamil Nadu. On August 29, 2024, at an investors’ conference in San Francisco, Stalin signed MOUs with six global companies—Nokia, PayPal, Yield Engineering Services, Microchip, Infinx Healthcare, and Applied Materials—for an investment of Rs 900 crores, which will create 4,100 new jobs.
