Aequs would be investing Rs 4000 crore in the facility meant for manufacturing spare parts for plane engines and other aeronautical products, generating employment for 7000 persons: Release
CHENNAI: Two Memoranda of Understanding (MoUs) were signed, in the presence of Chief Minister M K Stalin at the Secretariat on Monday, with a subsidiary to the Japanese firm NMB-Minebea and the Aequs Corporation for investing Rs 5980 crore in two manufacturing units at Tiruvallur and Krishnagiri districts that would generate 8400 jobs.
An official press release said that the Rs 1980 crore project by NMB-Minebea would manufacture semiconductors and electronic appliances, providing employment to 1400 persons in Thiruvallur district while Aequs would be making space and defense equipment at the SIPCOT Shoolagiri industrial park in Krishnagiri districts.
Aequs would be investing Rs 4000 crore in the facility meant for manufacturing spare parts for plane engines and other aeronautical products, generating employment for 7000 persons, the release said.
Apart from the MoUs for setting up the industries, the Chief Minister also inaugurated a slew of buildings, including 15 structures in schools, constructed by the department of higher education at a cost of Rs 524.02 crore and laid the foundation for buildings worth Rs 555.92 crore to be built for the department. Totally, the value of the buildings of different departments inaugurated on Monday were to the tune of Rs 1210.5 crore.
