Schneider Electric's Major Investment Sparks Tamil Nadu Expansion
Automation leader Schneider Electric plans to invest Rs 718 crore to expand its operations in Tamil Nadu. The investment includes expanding manufacturing facilities in Chennai and Coimbatore and establishing a new plant in Hosur, projected to create around 663 jobs and boost exports.
- Country:
- India
Schneider Electric Group has inked a Memorandum of Understanding (MoU) with the Tamil Nadu government, investing over Rs 700 crore to expand its operations in the state. The signing was witnessed by Chief Minister M K Stalin.
The investment covers Rs 718 crore for enhancing Schneider Electric India's manufacturing facilities in Chennai and Coimbatore. Moreover, a new plant will be established in Hosur by Schneider Electric IT Business India to produce batteries and cooling solutions.
With nearly three decades of operation in Tamil Nadu, Schneider Electric aims to enhance its local manufacturing capabilities, improve supply chain efficiency, and increase export potential through this significant investment.
(With inputs from agencies.)
ALSO READ
Financial Strategies and Expansions: A Deep Dive into Asset Management and Economic Growth
Lufthansa's Bold Transatlantic Expansion Fueled by U.S. Demand
Zambia's Parliament Expansion: A Political Power Play?
Accenture Surges with Strong Revenue Growth and AI Expansion
RattanIndia Enterprises Partners with UAE's Noon for Gulf Expansion
Google News