TN signs business pacts for Rs 800 cr with Japanese firms on Chief Minister Stalin’s visit

Chennai:┬áThe Tamil Nadu government on Monday signed memoranda of understanding (MoU) worth Rs 800 crore with Japanese firms during Chief Minister M K Stalin’s ongoing visit of that country.

A total of six MoUs envisaging Rs 818.90 crore investments in the fields of automotive spares, metals used in space, defence and construction, as well as construction engineering were signed in Tokyo in the presence of Stalin, an official release said.

Guidance Tamil Nadu, the state’s nodal agency for investment promotion and single window facilitation, signed MoUs with Japanese firms KyoKuto Satrac, Mitsuba, Shimizu Corporation, Kohyei, Sato-Shoji Metal Works and Tofle, the release added.

As part of the MoUs, these companies will invest in various parts of Tamil Nadu including in Kancheepuram and Tiruvallur districts. State Industries Minister TRB Rajaa and a few officials were present.

Earlier in the day, Chief Minister Stalin attended an investors’ conference jointly organised with Japan External Trade Organisation-JETRO, and invited Japanese firms to invest in Tamil Nadu.

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

Stalin had left for Singapore and Japan last week as part of his government’s efforts to attract more investments to the state.