Tata Electronics to sign MOU worth over Rs 12,000 cr with Tamil Nadu Govt
Tata Electronics is reportedly to sign a Memorandum of Understanding (MoU) worth a whopping Rs 12,082 crore with Tamil Nadu Government.
The MoU is likely to be signed at Tamil Nadu Global Investors Meet 2024 in Chennai which was inaugurated by state's Chief Minister M. K.
Stalin and Union Minister Piyush Goyal on Sunday.
Speaking at the summit, CM Stalin has said that it is raining investments in the state. JSW Renewable, TVS Group and Mitsubishi Electric have inked pacts worth Rs 12,000 crore, Rs 5,000 crore and Rs 6,180 crore respectively.
According to reports, Tata Electronics is planning to invest Rs 7,000 crore for expansion of its Hosur plant which will be made over a six-year period.
In November 2023, the Tata Group had signed a binding share purchase agreement with SMS InfoComm (Singapore) and Wistron Hong Kong Limited to acquire 100% equity stake in Wistron Infocomm Manufacturing (India), enabling the Tata Group to officially join the Apple supply chain as an iPhone assembler.
(More to come)
