Tamil Nadu Chief Minister MK Stalin Secures Big Investments and Jobs During US Visit
Chennai (Tamil Nadu) [India], September 14: Tamil Nadu Chief Minister, MK Stalin, returned from America on Saturday, announcing that 19 Memorandums of Understanding (MoUs) worth Rs 7,618 crore were signed for the State. These agreements are expected to create 11,516 jobs in Tamil Nadu.
Successful US Tour
Addressing reporters at the Chennai Airport, Stalin said, “I have completed my official visit to America. This was a successful visit. 19 MoUs have been signed. I got an investment of Rs 7618 crore for the state. 11,516 people will get new jobs. Factories will be set up in Trichy, Madurai, Coimbatore, Chennai, Krishnagiri, and other districts.”
Ford to Restart Operations
On September 13, Ford Motor Company announced it would restart operations at its closed manufacturing plant in Tamil Nadu. This decision came after several high-level discussions between Ford and the Tamil Nadu government, including a recent meeting between Ford’s Hart and Stalin during his US visit.
Major Investments and Job Creation
The state government secured a significant investment of Rs 2000 crore in Tiruchirapalli, creating around 5000 jobs. An MoU was signed with RGBSI to establish an advanced electronics and telematics manufacturing unit in Hosur with an investment of Rs 100 crore.
Rockwell Automation will expand its manufacturing with a Rs 666 crore investment in Kanchipuram, bringing around 365 jobs. Stalin also discussed potential investment opportunities in AI with officials from BNY Mellon.
Additional Agreements
Earlier on September 6, Tamil Nadu secured MoUs worth Rs 850 crores with US-based companies Lincoln Electric, Vishay Precision, and Visteon. The state also signed a Rs 2000 crore MoU with Trilliant to establish a manufacturing unit and a Development and Global Support Centre.
Stalin signed MoUs with Eaton for a Rs 200 crore R&D and engineering centre expansion in Chennai. In August, the state signed an agreement with Ohmium for a new factory in Chengalpattu district to produce electrolysers and green hydrogen, with an investment of Rs 400 crores, creating 500 job opportunities.
Additionally, an MoU was signed with Google to set up artificial intelligence (AI) labs in Tamil Nadu. During Stalin’s US visit, MoUs were signed with six leading global companies in San Francisco—Nokia, PayPal, Yield Engineering Services, Microchip, Infinx Healthcare, and Applied Materials—for an investment of Rs 900 crores, creating 4,100 job opportunities.
Doubts Revealed
MK Stalin -: MK Stalin is the Chief Minister of Tamil Nadu, a state in India. He is a political leader who helps make important decisions for the state.
MoUs -: MoUs stands for Memorandums of Understanding. These are agreements between two or more parties to work together on certain projects or goals.
Rs 7,618 crore -: Rs 7,618 crore is a large amount of money. In India, ‘Rs’ stands for Rupees, the currency used in the country. A crore is equal to 10 million.
Ford -: Ford is a big car company that makes vehicles. They are planning to restart their factory in Chennai, a city in Tamil Nadu.
Lincoln Electric -: Lincoln Electric is a company that makes welding products and equipment. They are one of the companies investing in Tamil Nadu.
Vishay Precision -: Vishay Precision is a company that makes electronic components. They are also investing in Tamil Nadu.
Visteon -: Visteon is a company that makes parts for cars, like dashboards and electronics. They are investing in Tamil Nadu too.
Trilliant -: Trilliant is a company that provides smart energy solutions, like smart meters for electricity. They are one of the investors.
Eaton -: Eaton is a company that makes power management products, like electrical systems and components. They are investing in Tamil Nadu.
Ohmium -: Ohmium is a company that works on green hydrogen technology, which is a clean energy source. They are also investing in Tamil Nadu.
Google -: Google is a very big technology company known for its search engine and many other internet services. They are investing in Tamil Nadu.
Nokia -: Nokia is a company that makes mobile phones and telecommunications equipment. They are one of the global companies investing in Tamil Nadu.
PayPal -: PayPal is a company that provides online payment services, allowing people to send and receive money over the internet. They are also investing in Tamil Nadu.
