Anand Group Commits Rs. 987 Cr Investment For Auto Component Manufacturing In TN
Anand Group, an auto component manufacturer, has committed a Rs. 987 crore investment in Tamil Nadu state at the Global Investors Meet 2024. The group has signed a Memorandum of Understanding (MoU) with the state government to expand its manufacturing capabilities in the region.
The investment under this MoU will be made by Anand Group and its Joint Venture Partners: Inalfa Gabriel Sunroof Systems, HL Mando Anand India, Gabriel India, HL Klemove and Anand Mando E-Mobility.
Anand Group companies will focus on expanding their manufacturing capabilities for various auto components, including sunroof systems, electronic power steering, integrated dynamic brake systems, and e-motors for two-wheeler applications, the company stated in a release.
Anjali Singh, Executive Chairperson of Anand Group, said, “We have had a long-standing commitment to Tamil Nadu since the 1990s and this continues. The state's favourable business environment, strong infrastructure, and skilled talent pool have created an attractive climate for new investments. We will leverage our partners’ strengths to offer cutting-edge manufacturing capabilities to Original Equipment Manufacturers (OEMs).”
The Group supplies technology parts to prominent OEMs such as Hyundai, Tata Motors, Mahindra, TVS Motors and OLA Electric. The latest MoU focuses on the localisation of critical components.
S Sarathi, Group President and Chief Assurance Officer of Anand, said, “We are glad to announce these new projects in the state that is rightly known as the Detroit of India. This is the fourth time that Anand Group is signing an MoU with the Tamil Nadu State Government, a testament to the Tamil Nadu government’s proactive approach towards creating a favourable industrial climate and the ease of doing business.”
The latest investment is anticipated to generate approximately 2,000+ job opportunities over seven years. To date, the ANAND Group, through its joint venture companies, has created more than 6,000 job opportunities in Tamil Nadu, said the group in a release.
