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Singapore firms to invest $5 bn in sustainability, infra sectors

Lionsbot, which designs and manufactures automated industrial-scale cleaning robots, will partner with top universities in Tamil Nadu to drive the development of engineering and robotics talent.

Singapore firms to invest $5 bn in sustainability, infra sectors
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Global Investors Meet venue in Chennai on Saturday

CHENNAI: The Ministry of Trade and Industry, Singapore, on Sunday signed a memorandum of understanding with the Tamil Nadu government to invest 5 billion dollars into sustainability and infrastructure sectors at the third Global Investors Meet (GIM 2024) here.

In the sectors of renewable energy, waste management, real estate and logistics, Singapore companies such as CapitaLand Investment, ST Telemedia Global Data Centres (STT GDC), Crayon Data, Lionsbot India have signed MoUs with the GuidanceTN, the investment promotion agency of Tamil Nadu government.

“CapitaLand has committed to additional investments in Chennai, to be deployed across business parks, logistics, warehouses and a data centre. Lionsbot, which designs and manufactures automated industrial-scale cleaning robots, will partner with top universities in Tamil Nadu to drive the development of engineering and robotics talent. This includes setting up training laboratories and designing hardware and software courses,” said Simon Wong, Singapore High Commissioner to India.

“The latest pipeline of collaborative initiatives and associated investments show that Singapore companies are strategically building the breadth and depth of their engagement in Tamil Nadu. This is testament to the strong opportunities and investor friendly policies of the state,” said Tan Soon Kim, Deputy CEO, EnterpriseSG.

“EnterpriseSG is committed to deepening our support for companies interested in entering the market and helping them capture opportunities alongside Tamil Nadu’s ambition to be a 1 trillion dollar economy by 2030,” he added.

In sync with the massive digital adoption in the country, STT GDC India envisages creating additional data centre capacity of up to 80 MV over multiple phases over the next eight to ten years across suitable locations in the state.

With a current workforce of 150 AI-ready employees, Crayon Data aims to further enhance its presence in Chennai and create 150 direct and 350 indirect jobs within the next three years.

In addition, Lionsbot will set up a new commercial sales team in India, to capture opportunities in the cleaning sector, starting with Chennai.

Ramakrishna N
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