Mitsubishi Electric to sign MoU with TN govt involving Rs 1,891 cr investment

Chennai: The Japan headquartered Mitsubishi Electric India (MEI) will sign a MoU with the Tamil Nadu Government tomorrow for setting up Room Air Conditioners and Compressors manufacturing facility in Tiruvallur district involving an investment of Rs 1,891 crores. The MoU will be in the presence of Tamil Nadu Chief Minister M.K.Stalin. Tamil Nadu Industries Minister Thangam Thennarasu, Mr.Kazuhiko Tamura, MD, Mitsubishi Electric India, Mr.Yasumichi Tazunoki, Group President, Mitsubishi Electric Corporation and Mr. Masayuki Taga, Consul General, Consulate General of Japan in Chennai, will also be present. MEI will invest Rs 1,891 crore or 26.7 billion yen (about USD 222.5 million) by way of 100% foreign direct investment which would generate jobs to more than 2000 people. UNI