CHENNAI: Guidance Tamil Nadu and Japan-headquartered Daicel Safety Systems exchanged a Memorandum of Understanding (MoU) for the expansion of Daicel's automobile airbag inflator plant in Thiruporur in Chengalpattu district, on Friday in Osaka in the presence of Tamil Nadu Chief Minister M K Stalin.

Industries Minister T R B Rajaa and Guidance Tamil Nadu Managing Director V Vishnu, were among those present during the event.

The chief minister who met Ken Bando, head of business operations of Daicel Safety Systems, invited the latter to participate in the global investors meet in Chennai in January 2024.

Stalin had arrived in Japan after completing a two-day visit to Singapore to attract investment to Tamil Nadu. In Singapore, the Chief Minister called on Transport Minister S Iswaran, who is in-charge of trade relations and discussed the investment opportunities in Tamil Nadu, an official release here said.

On Thursday, the chief minister met the CEOs of three major companies, S Iswaran and Singapore Law Minister K Shanmugam, and invited them to Chennai for Global Investors' Meet.

Currently, the CM is on a visit to Japan to woo the investors.

Addressing Tamil Nadu's investment conclave in Osaka, Stalin said he was not new to Japan. He had visited the country seeking funds for the Chennai Metro Rail Project and the Hogenakkal drinking water scheme in 2008.

There was already a sizeable presence of Japanese companies in the state, which is the most favorable investment destination in India for Japanese companies too. "We invite you to invest in Tamil Nadu," Stalin said.