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Leading auto parts maker Sundram Fasteners has proposed to invest ₹1,411 crore in future capacity expansion.
The planned investment spans up to 2027-28 and will be used for capacity expansion of existing products, including components for electric vehicles (EVs). The investment programme will generate employment opportunities for more than 1,500 people in Tamil Nadu, said a statement.
The investment is expected to be made in factories located in Padi, Mahindra World City Velappanchavadi, Gummidipoondi, Hosur, Aviyur, Madurai, Mittamandagapattu and Villupuram in Tamil Nadu.
The investments made in Mahindra World City fall under both the Industrial Policy and the EV Policy.
“With this strategic investment, we are proud to expand growth opportunities and reach new milestones. We are grateful to the Government of Tamil Nadu for their support,” said Arathi Krishna, Managing Director, Sundram Fasteners Ltd.
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