TN govt signs two MoUs with two major players; 8,400 jobs may be created

CHENNAI: The Tamil Nadu govt on Monday entered into separate MoUs with two major players in the aerospace & defence and semiconductor and advanced precision components manufacturing sectors for a combined investment of Rs 5,980 crore. These projects are expected to create a total of 8,400 jobs.

While Aequs Group will invest up to Rs 4,000 crore, Japan-based MinebeaMitsumi will invest Rs1,980 crore. The MoUs were signed in the presence of chief minister M K Stalin.


Karnataka-headquartered Aequs Group, a diversified manufacturing company for aerospace and consumer industries, will establish a large-scale aerospace and defence manufacturing cluster at SIPCOT Shoolagiri in Krishnagiri district.

Aequs, along with its partners, will invest up to Rs 4,000 crore, including Rs 1,900 crore from Aequs as the anchor investor, to establish integrated manufacturing facilities.

The proposed cluster will focus on aero-engine components, landing gear systems, ultra-precision machining and advanced aerospace systems and sub-assemblies.

The project is expected to generate 7,000 jobs.

NMB-Minebea India, a subsidiary of MinebeaMitsumi, will set up a multi-functional semiconductor and advanced precision components manufacturing and R&D facility in Tiruvallur. The facility will manufacture IGBT (insulated-gate bipolar transistor) modules and high-precision components that power next-generation manufacturing and mobility ecosystems, creating employment opportunities for 1,400 people, including 400 high-end roles in R&D.