+
TN secures $4.39 bn investments from Apple suppliers, Hyundai Motors
ECONOMY & POLICY

TN secures $4.39 bn investments from Apple suppliers, Hyundai Motors

Tamil Nadu, the southern state of India, announced the signing of investment agreements totalling over $4.39 billion with prominent companies such as Tata Electronics and Pegatron, key suppliers for Apple, along with major player Hyundai Motors. This move is part of Apple's strategy to expand production beyond China, with Pegatron planning a second factory in India, where Tata Group initiated iPhone assembly last year.

Tata Electronics, a division of the Indian conglomerate, committed to investing Rs 120.8 billion in mobile phone assembly operations, as stated by the state government during the agreement signing. Chief Minister M K Stalin emphasised the government's commitment to supporting investors, expressing a desire to play a significant role in India's economic growth.

Pegatron, the Taiwanese supplier for Apple, will invest Rs 10 billion to enhance production, according to the government. Additionally, Tata Power is exploring investments up to Rs 700 billion in Tamil Nadu over the coming years, including contributions to existing projects, as mentioned by its CEO and managing director, Praveer Sinha.

These agreements, unveiled at a global investor meeting, are anticipated to create numerous job opportunities in the state. The announcement precedes another investment summit in Prime Minister Narendra Modi's home state of Gujarat, expected to attract numerous domestic and foreign investors.

Among the notable deals, JSW Energy committed Rs 120 billion for the development of renewable energy projects, and Hyundai Motors pledged Rs 61.8 billion, earmarking some for electric vehicle (EV) battery and car manufacturing. Vietnamese EV maker VinFast also agreed to establish manufacturing facilities in Tamil Nadu, investing up to $2 billion.

Furthermore, Hong Fu, the manufacturer for Nike shoes, is set to sign an agreement to invest nearly Rs 10.4 billion in India, with an additional Rs 16.6 billion expected soon, as mentioned by Aqeel Panaruna, chairman of Florenece Shoe, the company's India partner.

Tamil Nadu, the southern state of India, announced the signing of investment agreements totalling over $4.39 billion with prominent companies such as Tata Electronics and Pegatron, key suppliers for Apple, along with major player Hyundai Motors. This move is part of Apple's strategy to expand production beyond China, with Pegatron planning a second factory in India, where Tata Group initiated iPhone assembly last year. Tata Electronics, a division of the Indian conglomerate, committed to investing Rs 120.8 billion in mobile phone assembly operations, as stated by the state government during the agreement signing. Chief Minister M K Stalin emphasised the government's commitment to supporting investors, expressing a desire to play a significant role in India's economic growth. Pegatron, the Taiwanese supplier for Apple, will invest Rs 10 billion to enhance production, according to the government. Additionally, Tata Power is exploring investments up to Rs 700 billion in Tamil Nadu over the coming years, including contributions to existing projects, as mentioned by its CEO and managing director, Praveer Sinha. These agreements, unveiled at a global investor meeting, are anticipated to create numerous job opportunities in the state. The announcement precedes another investment summit in Prime Minister Narendra Modi's home state of Gujarat, expected to attract numerous domestic and foreign investors. Among the notable deals, JSW Energy committed Rs 120 billion for the development of renewable energy projects, and Hyundai Motors pledged Rs 61.8 billion, earmarking some for electric vehicle (EV) battery and car manufacturing. Vietnamese EV maker VinFast also agreed to establish manufacturing facilities in Tamil Nadu, investing up to $2 billion. Furthermore, Hong Fu, the manufacturer for Nike shoes, is set to sign an agreement to invest nearly Rs 10.4 billion in India, with an additional Rs 16.6 billion expected soon, as mentioned by Aqeel Panaruna, chairman of Florenece Shoe, the company's India partner.

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?