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According to a release, the MoU was signed in the presence of Tamil Nadu Chief Minister MK Stalin and involves investment Rs 718 crore to expand operations in the state, creating around 663 jobs.
It said the investment will include expansion of Schneider Electric India Pvt Ltd’s smart manufacturing facilities in Chennai and Coimbatore and setting up of a new plant in Hosur by Schneider Electric IT Business India Pvt Ltd to produce batteries and cooling solutions.
Schneider Electric has been operating in Tamil Nadu for almost three decades.
The new investment is expected to strengthen the company’s local manufacturing base, boost exports and enhance its supply chain capabilities.
The signing ceremony was attended by Industries Minister TRB Raja, Chief Secretary N Muruganandam, Industries Secretary V Arun Roy and TIDCO Managing Director and CEO Darez Ahmed.
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