Brazil's WEG to invest Rs 2,000 crore in Dharmapuri manufacturing plant
The electrical equipment manufacturer plans to create 3,000 jobs at a new 100-acre facility in Tamil Nadu.
Brazil-based electrical equipment manufacturer WEG plans to invest Rs 2,000 crore to set up a new manufacturing facility in the Dharmapuri SIPCOT industrial estate, according to reports by ETV Bharat and The Times of India.
The company intends to establish the facility on 100 acres of land and expects it to create approximately 3,000 jobs. The plant will manufacture electric vehicle (EV) motors, industrial drives, and power generation equipment.
WEG, which has an annual revenue of $7.3 billion, evaluated several states before choosing Tamil Nadu for this expansion. The decision followed discussions with the state industries minister, the additional chief secretary for industries, and the managing director of Guidance Tamil Nadu.
The company's Indian subsidiary, WEG India, was established in 2008 and has been manufacturing in India since 2011. It currently operates a facility in Hosur and employs about 2,000 people across five sites in the country.
In July 2022, the company signed a memorandum of understanding to invest Rs 650 crore to expand its Hosur unit, aiming to create 650 jobs. The new Dharmapuri project is expected to consolidate and expand the company's manufacturing operations in the state.
The investment is expected to provide direct and indirect employment for local women and youth, while also strengthening micro, small and medium enterprises (MSMEs) and attracting component suppliers to the region.