CHENNAI: Continuing to showcase its ability to attract big-ticket investments, the State government on Monday signed memoranda of understanding with two leading companies to invest nearly Rs 6,000 crore to set up defense and semiconductor units, with a potential to generate around 8,400 jobs.
As per the MoUs signed in the presence of Chief Minister MK Stalin at the Secretariat on Monday, Aequs Group will invest Rs 4,000 crore in the aerospace and defence sector at Sipcot Industrial Park in Shoolagiri, Krishnagiri. The project is expected to create 7,000 jobs.
NMB Minebea India will invest Rs 1,980 crore to establish a research and development centre in the semiconductor sector at Origins by Mahindra in Tiruvallur. The project is projected to generate 1,400 employment opportunities.
Together, the two projects account for a total investment of Rs 5,980 crore and are expected to create 8,400 new jobs in the State.
At a separate event, the Chief Minister inaugurated 16 Uzhavar Angadis through video conferencing and launched 100 value-added centres for agricultural products. He also distributed subsidy sanction orders to 54 entrepreneurs for establishing value-added units.
Ministers MRK Panneerselvam, MP Saminathan, TRB Rajaa and Chief Secretary N Muruganandam were present at the events.