Freudenberg, a global technology group, plans to invest around 15 million euros (around Rs 111 crore) to set up a facility near Chennai. The company will begin construction work for the upcoming facility in the autumn of 2017.
It will be located 50 kilometers to the southwest of the city at Vallam-Vadagal Industrial Park. The facility will produce sealing solutions for the automotive industry, among other products.
Land acquired for the purpose spreads across a land area of 56,000 metre square and could be developed further.
According to the company, Freudenberg invested €8.6 million or Rs 62 crore in India last year.
"Investments were