Tamil Nadu Secures Rs 7,020 Crore Investment with 26 MoUs in Germany

Chennai, Sep 2 (PTI) Tamil Nadu Chief Minister M K Stalin has successfully concluded his visit to Germany by signing 26 Memoranda of Understanding (MoUs) that promise an investment of Rs 7,020 crore and more than 15,000 jobs for the state, according to an announcement by the government on Tuesday.

On September 1, during the TN RISING Germany Investors' meet, 23 MoUs with an investment commitment of Rs 3,819 crore were signed. These agreements are expected to create 9,070 jobs in Tamil Nadu, as per an official release.

Additionally, three significant MoUs were signed with companies including Nor-Prems, which is pledging Rs 2,000 crore and employment for 3,500 individuals, Nortex Group with Rs 1,000 crore and jobs for 2,500 people, and EBM-Fast, which plans to invest Rs 201 crore and employ 250 people.

As a result, a total of 26 MoUs have been finalized, with a combined investment commitment of Rs 7,020 crore, promising to generate employment for 15,320 individuals.

"The Germany leg of my overseas investment mission concludes on a strong note," Chief Minister M K Stalin shared in a post on X (formerly Twitter).

"Global leaders across renewable energy, automotive components, and advanced R&D have chosen Tamil Nadu for their next phase of growth," he further stated.

Stalin also emphasized, "The Dravidian Model is translating conversations into commitments and trust into tangible growth."

At the investors meet, Stalin highlighted that Tamil Nadu is a leading state in India for the production and export of motor vehicles, particularly electric vehicles, electronic equipment, leather goods, non-leather footwear, garments, and in diverse sectors such as information technology, renewable energy, and advanced medical services.

"Therefore, I kindly request German investors to make your investments in sectors such as robotics, capital goods, and innovation, where you are world-class," he urged.

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