European firms to invest $796 million in Tamil Nadu; MoUs inked in Germany
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26 European firms have signed MoUs with the Tamil Nadu government, with a total investment potential of $796mn Photograph: (Courtesy: Tamil Nadu Govt)
Guidance Tamil Nadu, the state’s investment promotion agency, further signed an MoU with Next Mittelstand (Ausbildung) to bring Germany’s dual vocational training model to the southern Indian state. Tamil Nadu Chief Minister MK Stalin and his delegation will next be visiting the UK.
The government in the Southern Indian state of Tamil Nadu announced that European firms from across sectors have inked 26 Memoranda of Understanding (MoUs), which could potentially result in investments amounting to $796 million (Rs.7020 crore), leading to the generation of over 15,000 jobs. Tamil Nadu Chief Minister MK Stalin and his officials are on a week-long tour of Europe, and the aforementioned investment MoUs were inked as part of the Tamil Nadu Investment Conclave in Germany, held as part of the TN Rising Europe investment drive.
The conclave brought together global leaders in renewable energy, automotive components, industrial equipment, and advanced R&D. According to the Tamil Nadu government, major investment MoUs included Vensys Energy (Rs. 1068 crore), BASF (Rs. 300 crore), Bella Premier Happy Hygiene (Rs. 300 crore), Herrenknecht India (Rs. 250 crore), Puls (Rs. 200 crore), Witzenmann India (Rs. 200 crore), and MASH Energy (Rs. 200 crore).
Bella Hygiene, a Poland-based multinational behind the Bella brand in sanitary and medical products, would expand its modern hygiene products manufacturing facility in Dindigul district.
Witzenmann Group, a German leader in flexible metal hoses and expansion joints for the auto industry, would expand production in Tamil Nadu for automotive and industrial applications.
BASF Environmental Catalyst and Metal Solutions (ECMS) would expand its Chengalpattu facility. The company focuses on catalysts, adsorbents, battery materials, and precious metal solutions.
Vensys Energy AG, a German wind turbine manufacturer specialising in gearless direct drive technology, would set up a wind components facility in Tamil Nadu.
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Herrenknecht, the global market leader in tunnel boring machines, would expand its Chennai facility. The company will support projects such as the Mumbai Coastal Road and Chennai Metro through its locally manufactured machines and components.
The other significant MoUs include Knorr-Bremse, the Munich-headquartered firm working on safety and braking systems, which would be establishing its first-ever major manufacturing unit in Tamil Nadu with an investment of Rs. 2,000 crore. Further, Nordex Group, one of the world’s top wind turbine manufacturers would be expanding their presence in Tamil Nadu with Rs. 1,000 crore investment.
Guidance Tamil Nadu, the state’s investment promotion agency, further signed an MoU with Next Mittelstand (Ausbildung) to bring Germany’s dual vocational training model to the southern Indian state. Starting with 120 students and scaling to 20,000 over the next decade, this programme will raise global skill standards among the state’s youth.
Following the visit to Germany, Tamil Nadu Chief Minister MK Stalin and his delegation would be visiting the UK for further engagements and investor meetings.
