TAFE signs MoU with Tamil Nadu Government for Rs 500 crore

Tractors and Farm Equipment Limited (TAFE), signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu at the Tamil Nadu Global Investors Meet 2024. 

Tractors and Farm Equipment Limited proposes to expand its Farm Equipment Division to produce an advanced range of farm equipment for a wide variety of crops ideally suited for both Indian and international markets. In addition, TAFE proposes investment to enhance its facility for the assembly and export of Silent Generators to various countries in the Middle East and Africa. TAFE plans to establish as well, a State-of-the-Art design and development facility in Tamil Nadu.

TAFE’s Chairman and Managing Director, Mallika Srinivasan said, “Tamil Nadu is one of the most industrialised states, with an evolved industrialised culture, investor-friendly government, rich and diverse talent pool and inherent strengths that are conducive for innovation. TAFE is keen to leverage the vibrant ecosystem of Tamil Nadu and work closely with the Tamil Nadu Government as it invests in new growth opportunities.”

Among other countries, Royal Enfield signed an 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.