The Hinduja Group has signed an MoU (Memorandum of Understanding) with the government of Tamil Nadu at the Tamil Nadu Gobal Investors Meet. It will invest Rs 1,200 crore in the state over the next 3-5 years.
The group is committed to creating employment opportunities for 500- 1000 people both direct and indirect, based on the work demand.
This substantial financial commitment not only underscores the company's vision for sustainable growth but also outlines its comprehensive plans, spanning manufacturing, research and development, and critical business functions.
The Tamil Nadu Gobal Investors Meet has attracted a lot of investment from auto companies. Royal Enfield has also signed an MoU for a proposed investment of Rs 3,000 crore, over eight years, for brownfield and greenfield projects, at the summit.
Royal Enfield's is the fourth major MoU signing from the automotive sector at the Tamil Nadu Global Investors Meet 2024 following the ones from TVS Motor Co, Hyundai Motor and Vietnamese EV manufacturer Vinfast on January 7.