Tamil Nadu Govt Signs 6 MoUs Worth Rs 818.9 Cr With Japanese Companies

Aiming to make investments worth Rs 818.9 crore in Tamil Nadu, Guidance Tamil Nadu and six Japanese corporations inked six MoUs. The MoUs were signed in the presence of the chief minister, MK Stalin, on Monday in Tokyo, .

An MoU was signed between Guidance Tamil Nadu (the State’s nodal agency for investment promotion and single window facilitation) and KyoKuto Satrac, with an investment of Rs 113.90 crore, for the establishment of a 13-acre plant at Mambakkam in Kancheepuram district to manufacture trailers and trucks, an official release said.

The release also stated about the MoU with Mitsuba, with an investment of Rs 155 crore, that intends to expand its plant at SIPCOT Gummidipoondi in Tiruvallur district, which is involved in the manufacture of spare parts for two and four-wheelers. 

Kohyei signed a MoU over building a plant with an investment of Rs 200 crore that will manufacture polycarbonate sheets – components used in roof structures and extrusion lines for electronic components, that are extensively used in construction industry.

Sato-Shoji Metal Works will invest Rs 200 crore to set up a plant to manufacture high-quality steel components used in space, defence and construction industries. Tofle will be investing Rs 150 crore to set up a plant to manufacture stainless steel specialised flexible hoses that are used in steel plants, solar and semiconductor industries.

Meanwhile, earlier the CM MK Stalin called upon Japanese industrialists to expand their investments in Tamil Nadu and invest in infrastructure development projects in the State, which could complement their projects in the manufacturing sector. 

Addressing an Investment Conclave organised jointly with the Japan External Trade Organisation (JETRO) in Tokyo, he pointed out that most of the investments from Japan were primarily in the manufacturing sector.