Tamil Nadu signs business pacts worth Rs 800 crore with Japanese companies

A total of six MoUs were signed in Tokyo, envisioning a total investment of Rs 818.90 crore in the fields of automotive spares, construction engineering, and metals used in space and defense

The Tamil Nadu government on Monday signed memoranda of understanding (MoU) worth Rs 818.90 crore with Japanese firms during Chief Minister M K Stalin's ongoing visit to that country.
 

A total of six MoUs were signed in Tokyo in the fields of automotive spares, construction engineering, metals used in space and defense, and construction, according to an official release.
 

The companies in Japan that signed the MoUs included KyoKuto Satrac, Mitsuba, Shimizu Corporation, Kohyei, Sato-Shoji Metal Works, and Tofle. 
 

Guidance Tamil Nadu, the state's nodal agency for investment promotion and single-window facilitation, signed the memoranda on behalf of the state government.
 

 

According to the agreement reached, the firms will invest in various parts of the state including in Kancheepuram and Tiruvallur districts. 
 

State Industries Minister TRB Rajaa and a few officials were present during the signing of the MoUs. Earlier, Chief Minister M K Stalin was present at  an investors' meet jointly organised with Japan External Trade Organisation (JETRO).
 

He also extended an invitation to them to attend a proposed global investors' conclave in Tamil Nadu in January 2024, the release added.
 

Stalin had left for Singapore and Japan last week as part of his government's outreach to attract foreign investment.