GuidanceTamil Nadu signed six MoUs with Japanese companies and their Indian joint venture partners to cumulatively attract investments of close to Rs 820 crore.
These MoUs were signed in the presence of chief minister M K Stalin, at the end of an investors conclave, organised by the Japan External Trade Organization (JETRO) in Tokyo.
Three of the six MoUs were signed by Guidance Tamil Nadu along with Chennai-based 2,800 crore Polyhose group with its three Japanese joint venture companies Kohyei, Sato-Shoji Metal Works and Tofle for expanding their existing operations near Chennai and manufacturing additional products.
These three MoUs would together facilitate investment of 550 crore and pave way for manufacturing polycarbonate sheets, roofs and extrusion lines for electronic components for use in the construction industry, high-end steel parts to be used in aerospace and defense industries and stainless steel specialised flexible hoses.
Guidance Tamil Nadu also entered into an MoU with Kyokuto Satrac for setting up a factory for manufacturing spare parts of trucks in Sipcot, Mambakkam in Kancheepuram district on 13 acres of land.
Stalin appealed to the Japanese business houses to diversify their investments in Tamil Nadu.