In a boost to investments and employment generation in Tamil Nadu, Taiwan’s Pegatron Corporation and Tata Electronics plans huge investments in Tamil Nadu to make mobile phones and its components, reports LiveMint.
While Tata Electronics plans to invest Rs 5,763 crore to manufacture mobile phone components, Pegatron will invest Rs 1,100 crore to make mobile phones as part of its phase I investment.
The manufacturing plant of Tata Electronics will come up in Krishnagiri district of the state and is likely to create 18,250 jobs.
The Tamil Nadu Cabinet on Friday (29 January) approved fresh investment proposals to the tune of Rs 52,257 crore.
In total, the Tamil Nadu Cabinet has approved 34 projects which would create 93,935 jobs in the State.
The investments are spread across sectors like electronics, automobile and auto components and solar cell manufacturing.
Earlier in January, Indian ridesharing company Ola joined hands with German multinational conglomerate Siemens to build India’s most advanced electric vehicle manufacturing facility in Tamil Nadu with an investment of Rs 2,400 crore.
Built on Industry 4.0 principles such as large-scale machine-to-machine communication (M2M) and the internet of things (IoT), this manufacturing facility in Tamil Nadu will be the most advanced in the country.