CHENNAI: The State government on Tuesday (July 7) signed a Memorandum of Understanding (MoU) with the Hitachi Group for expansion projects worth Rs 1,000 crore in the technology, innovation and energy sectors.
The MoU was signed in the presence of Chief Minister C Joseph Vijay at the Secretariat. The proposed investment is expected to generate around 1,000 employment opportunities over the next three to five years, according to the government.
Hitachi currently operates a Centre for Technology and Innovation at Porur in Chennai and an energy generation facility in Chengalpattu district.
Under the new agreement, the company will expand operations at both facilities with an investment of Rs 1,000 crore.
The government said the investment would strengthen Tamil Nadu's position as a preferred destination for high-technology, innovation and advanced manufacturing while creating skilled employment opportunities.
Industries minister S Keerthana, chief secretary M Sai Kumar, additional chief secretary for Industries S Vijayakumar and senior government officials were present during the signing of the agreement.
During the previous DMK regime, Hitachi Energy Technologies Services Private Limited had signed an MoU with the State government to invest around Rs 2,000 crore to expand its Global Technology and Innovation Centre at Porur.