Tamil Nadu CM MK Stalin signs MoUs for Rs 850 crores with Lincoln Electric, Vishay Precision, Visteon

Tamil Nadu Chief Minister MK Stalin on Friday said that the state has secured MOUs (memorandum of understanding), worth Rs 850 crores with US-based companies Lincoln Electric, Vishay Precision, and Visteon.

In a post on the social media platform “X”, the Tamil Nadu CM said, “In the land of opportunities, every new dawn ignites fresh hopes. We’ve secured MoUs worth Rs850 crores with Lincoln Electric, Vishay Precision, and Visteon, bringing us one step closer to realising our vision. Through relentless effort and determination, we continue to turn our dreams into reality.”

On Thursday, Tamil Nadu 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.

“Exciting developments in Chicago! Secured a Rs 2000 crore MoU with Trilliant to establish a manufacturing unit as well as their Development & Global Support Centre in Tamil Nadu. Thanks to Trilliant for this valuable partnership,” Stalin said on X.

Stalin further stated that he also held productive talks with Nike on its expansion for footwear production in Chennai as well as engaged with healthcare firm Optum for creating a talent pipeline in the same sector in the state.

Earlier on Wednesday, Stalin signed MOUs with Eaton, a multinational power management company, for Rs 200 crore R&D and engineering centre expansion in Chennai.

Stalin, taking to X, informed that these MOUs will help in creating 500 jobs and that the government has secured a pact with Assurant, a risk management solutions provider, to set up the first Global Capability Centre.

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

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.