On US visit, Tamil Nadu CM MK Stalin exchanges MoU with Caterpillar

Chief Minister MK Stalin led Tamil Nadu government on Thursday exchanged a memorandum of understanding (MoU) with Caterpillar to expand their construction equipment manufacturing facilities.

“The longstanding association between Caterpillar and Tamil Nadu has been further strengthened by new investments! We’ve exchanged an MoU with Caterpillar to expand their construction equipment manufacturing facilities. A big thanks to Caterpillar for investing further in Thiruvallur and Krishnagiri districts, further strengthening our partnership!” the Chief Minister posted on X.

On Sept 10, the Tamil Nadu CM said that he had a very engaging discussion with the team from Ford Motors. The CM and Ford explored the feasibility of renewing Ford’s three-decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world.

Earlier on September 9, Stalin underlined some of the key MoU’s he had signed during his visit. Stalin said that the state government has inked an MoU with Autodesk to skill youth and boost MSMEs and startups in the state. The Tamil Nadu government has also secured a significant investment of Rs 2000 crore at the Tiruchirapalli, which will create around 5000 jobs in the district. This investment by Jabil will create a new cluster for electronics manufacturing in the district. Rockwell Automation, a company in the industrial automation sector, will expand its manufacturing with a Rs 666 crore investment in Kanchipuram, which will bring around 365 jobs.

Stalin is currently on an official visit to the United States to secure support and investments aimed at boosting the prosperity of Tamil Nadu.

On September 7, Stalin held a fruitful discussion with the officials of ‘BNY Mellon’ regarding the potential investment opportunities in AI (Artificial Intelligence).

BNY Mellon is a global financial services company that provides investment management and services to help individuals and institutions invest, conduct business, and transact in markets. Earlier on September 6, Stalin said that the state has secured MOUs (memorandum of understanding), worth Rs 850 crores with US-based companies Lincoln Electric, Vishay Precision, and Visteon.

Tamil Nadu also secured a Rs 2000 crore Memorandum of Understanding (MoU) with Trilliant to establish a manufacturing unit as well as create their Development and Global Support Centre in the state. Stalin signed MOUs with Eaton, a multinational power management company, for Rs 200 crore R&D and engineering centre expansion in Chennai.

On August 31, 2024, an agreement was signed with Ohmium for the establishment of a new factory in the Chengalpattu district for producing electrolysers and green hydrogen, with an investment of Rs 400 crores and creating 500 job opportunities. Stalin said that the deal marked an important step in nurturing the ecosystem for green energy production and fuelling a sustainable future.

On August 30, 2024, meetings were held with senior officials from Apple, Google, and Microsoft to invite them to invest in Tamil Nadu, and an MoU was signed with Google to set up artificial intelligence (AI) labs in Tamil Nadu.

During the Tamil Nadu CM’s US visit, on August 29, 2024, at an investors’ conference held in San Francisco, MoUs were signed with six leading global companies–Nokia, PayPal, Yield Engineering Services, Microchip, Infinx Healthcare, and Applied Materials–for an investment of Rs 900 crores to create 4,100 job opportunities.