Sundram Fasteners Commits INR 1,411 Crore Investment In Tamil Nadu
Sundram Fasteners, an OEM supplier and automaker, entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a proposed investment of INR 1,411 crores during the Tamil Nadu Global Investors Meet 2024 in Chennai.
The investment is proposed to be made in Sundram Fasteners factories across Tamil Nadu, situated at Padi; Mahindra World City, SEZ; Velappanchavadi; Gummidipoondi; Hosur; Aviyur, Madurai and Mitta Mandagapattu, Villupuram. Among those above, the investments made in Mahindra World City, SEZ, fall under both industrial and EV policies.
The planned investment spans up to 2027–2028 and will be used for capacity expansion of existing products, including components for electric vehicles. This strategic move solidifies the company’s commitment to the state's economic development, generating employment opportunities for over 1500 individuals in Tamil Nadu.
Arathi Krishna, Managing Director, Sundram Fasteners, said, "We are grateful to the Government of Tamil Nadu for their unwavering support, which has played a crucial role in our success. As we move forward, we remain committed to producing and delivering high-quality products, creating a positive impact on our community, and contributing to the state's overall economic prosperity.”
