TN signs agreements with German firms, state to gain Rs 3,201cr investment

Chennai, Sep 1 (IANS) In a major boost to Tamil Nadu’s investment drive, three leading German companies signed agreements on Monday in the presence of Chief Minister M.K. Stalin. The deals are expected to bring investments worth Rs 3,201 crore to the state and create 6,250 new jobs. Stalin is currently on a tour of Germany aimed at attracting fresh industrial investments.

On Sunday, he addressed members of the Tamil diaspora in the German city of Cologne, urging them to support their home state’s growth.

“Like developed countries, Tamil Nadu too has the potential to grow further if all of us work together,” he said.

He appealed to the diaspora to start businesses in Tamil Nadu, even if small, to contribute to the state’s development. The next day, three German companies formalised their investment commitments.

A Munich-based firm, a global leader in braking systems, announced a major investment of Rs 2,000 crore to establish a state-of-the-art facility for rail braking systems and doors.

This marks the firm's first major production investment in Tamil Nadu and is expected to generate 3,500 jobs.

Besides, one of the world’s top wind energy manufacturers headquartered in Germany, will expand operations in Tamil Nadu with an investment of Rs 1,000 crore.

The project will create 2,500 jobs and reinforce Tamil Nadu’s role as a pioneer in renewable energy and green industrialisation.

Another firm will invest Rs 201 crore over five years to expand its Global Competence Centre (GCC) and manufacturing unit in Tamil Nadu. The expansion, covering HVAC, automotive, and industrial applications, is expected to generate 250 jobs.

During his visit, Chief Minister Stalin also met senior leaders of the BMW Group, which has a strong presence in Tamil Nadu. He highlighted the state’s contributions to the automotive and EV sectors and invited BMW to scale up operations through Tamil Nadu to reach markets across India. BMW reaffirmed its commitment, citing the state’s robust EV infrastructure and growing sales network.

With these agreements, Tamil Nadu has further strengthened its position as India’s industrial hub, drawing global investors in manufacturing, renewable energy, and advanced technologies.

--IANS

aal/pgh