TN Power Plays: ₹5,980 Cr Investment Secured

The Government of Tamil Nadu has signed two Memoranda of Understanding (MoUs) with Japan’s MinebeaMitsumi and Bengaluru-based Aequs Group, securing a combined investment of ₹5,980 crore.

The agreements were formalized in the presence of Chief Minister M. K. Stalin at the Secretariat. According to an official release, the projects are expected to generate around 8,400 jobs across the semiconductor and aerospace sectors.

Under the agreement, NMB Minebea India Private Limited will invest ₹1,980 crore to establish a manufacturing and research and development facility in Tiruvallur, located within the Mahindra Origins Industrial Park. The plant will focus on creating a comprehensive manufacturing ecosystem for high-value semiconductor components, including Insulated-Gate Bipolar Transistors (IGBTs) and Integrated Circuits (ICs), along with motors and sensors.

News by Rahul Yelligetti.