The Tamil Nadu government inked six memorandum of understanding (MoU) with Japanese businesses in anticipation of an investment of about Rs 818.9 crore.
As part of a one-week visit to Singapore and Japan, the MoUs were signed by Guidance Tamil Nadu, the state’s key body for investment promotion, in the presence of Chief Minister MK Stalin, who is in Tokyo.
Stalin attended an investors’ summit organised by the Japan External Trade Organisation (JETRO).
A news release states that Guidance Tamil Nadu and KyoKutoSatrac inked a memorandum of understanding (MoU) for an investment of Rs 113.90 crore to develop a 13-acre facility in Kancheepuram’s Mambakkam to produce trailers and trucks.
In another MoU with Mitsuba company over an investment of Rs 155 crore, it has been agreed to expand Mitsuba’s existing plant in SIPCOT Gummidipoondi in Tiruvallur district. This plant manufactures spare parts for vehicles.
A third MoU has been signed between Guidance TN and Shimizu Corporation for the latter to establish their business in the fields of construction, civil engineering and related industries.
