Two automotive companies have come forward to invest a total of Rs. 1,370 crore in Tamil Nadu over the next five years, according to the State Government.
Hwashin Automotive India Private Limited has proposed an investment of Rs. 850 crore for research and development, advanced manufacturing technologies, domestic production, skill development and new projects.
Sion E-Hwa Summit Automotive India Private Limited has proposed to invest Rs. 520 crore in technology upgrades, modernisation and new business development.
Representatives of both companies submitted letters of intent to Industries Minister S. Keerthana at the Secretariat on November 11.
Senior officials, including Industries Department Additional Chief Secretary S. Vijayakumar, Special Secretary K. Vivekanandan and Guidance Tamil Nadu Managing Director and CEO Deepak Jacob, were present.
Tamil Nadu attracts Rs. 1,370-Crore Investment Commitments from two Companies
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