Aequs Group to invest ₹4,000 crore; NMB-Minebea India Private Limited ₹1,980 crore in Tamil Nadu

The Tamil Nadu government has signed a memorandum of understanding (MoU) with Aequs Group for an investment of ₹4,000 crore to create 250-acre aerospace and defence cluster at SIPCOT Shoolagiri in Krishnagiri district. It also inked an MoU with NMB-Minebea India Private Limited for an investment of ₹1,980 crore in Tiruvallur district.

Both the MoU were signed in the presence of Tamil Nadu Chief Minister M.K. Stalin in the Secretariat campus in Chennai on Monday. Taking to the social media, Industries Minister T.R.B. Rajaa said the Aequs’ project would be India’s first fully vertically integrated aircraft engine manufacturing project.

It would create 7,000 jobs. This will create a brand new, 250-acre Aerospace and Defence cluster at SIPCOT Shoolagiri in Krishnagiri district, designed to anchor India’s aero-engine and precision aerospace manufacturing ecosystem. ”The project will include an Aerospace and Defence Park with integrated facilities for aircraft engine and gearbox components manufacturing. It will house shared industrial infrastructure to create a seamless production and export platform,” Mr. Rajaa said.

With regard to investment by NMB-Minebea India Private Limited, the Minister said Japanese companies continued to reinforce their faith in Tamil Nadu. Minebea Mitsumi was a global major in precision mechanical and electronic components, with operations across 28 countries and supplying critical components to automotive, industrial and electronics sectors worldwide, he said.

“This investment strengthens our precision engineering and electronics ecosystem and deepens our integration into global supply chains. Tamil Nadu continues to be the preferred destination for advanced electronics manufacturing,” Mr. Rajaa said. 

In another event in the Secretariat, Mr. Stalin virtually inaugurated 16 Uzhavar Angadis established in Chennai and peripheral areas to facilitate market opportunities for farmers and ensure the availability of quality food to consumers.

The CM also presented orders for entrepreneurs for setting up 54 value addition units for agricultural produces. He also flagged off tractors, rotavators, and other equipment that have been procured by the Agricultural Engineering Department to be hired out to farmers at nominal hire charges.

The CM also virtually inaugurated new buildings constructed for Agriculture and Farmers’ Welfare, Health and Family Welfare, Higher Education, Micro, Small and Medium Enterprises, Social Welfare and Women Empowerment, Welfare of Differently-Abled Persons Departments at a total cost of Rs. 1,210 crore. He also unveiled the foundation stone for the construction of new buildings for the Higher Education Department at a cost of Rs. 555 crore.

In another event, Tamil Nadu Chief Minister M.K. Stalin on Monday presented the Kalaignar Ninaivu Kalaithurai Vithagar Award to actor M.N. Rajam and filmmaker S.P. Muthuraman for 2024 and 2025 respectively.