Pegatron, Tata Electronics, others ink Rs 28k-crore pacts with TN govt

Tata Electronics, Apple’s contract manufacturer Pega­tron, and Grasim and 25 other firms signed memoranda of understanding (MoUs) worth over Rs 28,053 crore with the Tamil Nadu government on Tuesday. These MoUs would create 68,775 jobs in the state, the government said. 

The MoUs were signed in the presence of Tamil Nadu Chief Minister E K Palani­swami, who also released the state’s Industrial Policy 2021, MSME Policy 2021, and inaugurated eight projects worth Rs 3,377 crore, which are ex­pected to generate 7,139 jobs. These projects include the French carmaker PCA Auto­mobiles’ Rs 1,250-crore car man­ufacturing facility and Ather Energy’s Rs 635-crore two-wheeler facility. 

Tata Electronics signed a Structured Package of Assis­tance (SPA) MoU with the state, according to which it will invest Rs 4,684 crore for a project in Krishnagiri to manufacture mechanical enclosures for mobile phones. The project is expected to create jobs for 18,250 people, officials said. 

Tata Sons Chairman Natarajan Chandrasekaran, who attended the ceremony through videoconference, said: “This is a very large project in precision engineering and manufacturing. It will create significant employment mainly for women and also train them for skill sets in new technical areas”. 

Another Tata Group firm, Tata Coffee, also signed a pact to invest around Rs 100 crore in a coffee manufacturing facility in Theni. Grasim Industries will establish a paint manufacturing unit at Cheyyar at an investment of Rs 750 crore. And, Pegatron Corporation will invest Rs 1,100 crore to manufacture smartphones.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel