MoU11 Jan 2024, 08:48 pm
Sundram Fasteners Limited enters into MoU with Government of Tamil Nadu for INR 1411 crore investment
AI Summary
Sundram Fasteners Limited, a leading supplier to OEMs and automakers globally, has entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a proposed investment of INR 1,411 crores. The investment will be used for capacity expansion of existing products, including components for electric vehicles. The move solidifies the company's commitment to the state's economic development and will generate employment opportunities for over 1500 individuals in Tamil Nadu.,
Key Highlights
- INR 1,411 crore investment
- capacity expansion of existing products
- components for electric vehicles
- economic development of Tamil Nadu
- employment opportunities for over 1500 individuals