Bulten Group to Invest ₹525 Cr in Tamil Nadu Fasteners Facility.

Sweden’s Bulten Group, through its Indian arm PSM Fasteners India, on Wednesday signed a memorandum of understanding (MoU) with the Tamil Nadu government to set up a new fasteners manufacturing facility in Oragadam.

The project will involve an investment of ₹525 crore and is expected to generate employment for around 2,000 people, Industries Minister T.R.B. Rajaa said in a social media post.

The proposed facility will manufacture a full range of micro-fasteners for both domestic consumption and exports, with key overseas markets including Europe and the US. The project is expected to reduce India’s dependence on imports in a critical segment of electronics and precision manufacturing. Leading electronics manufacturers are among the company’s major customers, the minister added.