The new factory is expected to produce power generation equipment, EV motors and industrial drives.
WEG India, the Indian subsidiary of the global engineering company, already operates a manufacturing facility in Hosur, where it began production in 2011. In July 2022, the company signed a memorandum of understanding (MoU) to invest Rs 650 crore in expanding its Hosur unit, with a commitment to create 650 jobs.
WEG evaluated multiple states before choosing Tamil Nadu for its next phase of expansion, following discussions with the state’s industries minister, the additional chief secretary for industries and Guidance Tamil Nadu, the statement said. The proposed Dharmapuri project will consolidate and expand the company’s manufacturing operations in Tamil Nadu.
The investment is expected to generate direct and indirect employment, creating opportunities for local youth and women and accelerating industrialisation in Dharmapuri. It is also expected to attract component suppliers, strengthen micro, small and medium enterprises (MSMEs), and create an ancillary industrial ecosystem around the facility. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai