Tamil Nadu Chief Minister M.K. Stalin on Tuesday unveiled the foundation stone for Mitsubishi Electric India’s factory in Tiruvallur district, which would manufacture air-conditioners and compressors. Mitsubishi would invest ₹1,891 crore into this project, which is expected to generate employment for over 2,000 people.
An MoU for the project was signed between the Tamil Nadu government and Mitsubishi Electric, in the presence of Industries Minister Thangam Thennarasu, Consul General of Japan in Chennai Masayuki Taga, senior officials of the Tamil Nadu government and representatives from Mitsubishi.
The factory would be spread over 52 acres at Peruvoyal in Gummidipoondi taluk and is expected to commence production in October 2025. The unit aims to manufacture 3 lakh air conditioners and 6.5 lakh compressors, an official release from Mitsubishi Electric said.
During his speech, Mr. Stalin said Tamil Nadu has been in the forefront to welcome fresh industrial investments into the State and further said TN was moving ahead to realise its target of achieveing a 1 trillion USD economy by 2030.
Mr. Thennarasu said TN was a pioneer in electric vehicles and that it was leading in the renewable energy sector and it continued to be first port of call in India when it came to investments. He also thanked the Chief Minister for leading the TN to remain the “haven of peace’ that attracted industrial investments into the State.
Industries Secretary S. Krishnan, Managing Director and Chief Eexecutive Officer of Guidance Tamil Nadu V. Vishnu, Managing Director of Mitsubishi Electric India Kazuhiko Tamura, Group President of Mitsubishi Electric Corporation Yasumichi Tazunoki and Consul General of Japan in Chennai Masayuki Taga were among those present.
Published - May 09, 2023 02:58 pm IST
