Brazil's WEG to invest Rs 2,000 crore in Tamil Nadu
The electrical equipment manufacturer chose Dharmapuri over Andhra Pradesh for its manufacturing project, which could create 3,000 jobs.
Brazilian electrical equipment manufacturer WEG plans to establish a consolidated global manufacturing investment in Dharmapuri, Tamil Nadu, according to reports from BusinessLine and The New Indian Express. The proposed investment is approximately Rs 2,000 crore and has the potential to generate around 3,000 employment opportunities.
The decision comes as the state competes with neighbouring Andhra Pradesh for manufacturing capacity. While Andhra Pradesh pitched Kuppam as a potential location, WEG confirmed its preference for Tamil Nadu following a meeting between Industries Minister S Keerthana and the company's leadership in Bengaluru on October 16.
The deal was finalised over five months. Discussions began on July 6 when the WEG team met with Guidance Tamil Nadu leadership, followed by a site visit on July 21. Further talks were held with Additional Chief Secretary (Industries) S Vijaykumar on August 18.
The project aims to expand the state's industrial footprint into regions outside the established Chennai-Coimbatore-Hosur manufacturing belt. The Industries Department noted that the investment in Dharmapuri could benefit the district and its surrounding regions by creating a sizeable employment base.