Brazil's WEG to invest Rs 2,000 crore in Tamil Nadu
The electrical equipment manufacturer will establish a manufacturing unit in Dharmapuri, creating 3,000 jobs.
Brazil-based electrical equipment manufacturer WEG has pledged to invest Rs 2,000 crore to establish a consolidated manufacturing unit in the Dharmapuri district of Tamil Nadu. According to the Deccan Herald, the project is expected to generate 3,000 jobs.
The company plans to acquire a 100-acre land parcel at SIPCOT Dharmapuri for the greenfield investment. The facility will manufacture power generation equipment, industrial drives, and motors for electric vehicles (EVs).
WEG evaluated multiple states before selecting Tamil Nadu, despite Andhra Pradesh proposing Kuppam as a potential location. The decision followed discussions between the company's leadership and a Tamil Nadu delegation that included Industries Minister S Keerthana, the Additional Chief Secretary (Industries), and the Managing Director of Guidance Tamil Nadu.
The company has maintained a manufacturing presence in the state since 2011 with a facility in Hosur. In 2022, WEG pledged Rs 650 crore to expand that unit.
The investment is expected to provide industrial impetus to the underdeveloped Dharmapuri region. An official release stated the plant would create employment for local women and youth, help curb outward migration, and build an ancillary ecosystem for local MSMEs.