Schneider Electric, a global provider of digital transformation and energy management solutions, has signed a Memorandum of Understanding (MoU) with Tamil Nadu’s investment promotion agency, Guidance Tamil Nadu, to set up a new plant in Hosur for the production of batteries and cooling solutions.
The agreement also includes the expansion of Schneider Electric’s existing facilities in Chennai and Coimbatore. The combined projects are expected to involve an investment of ₹718 crore and generate employment for 663 people.
The MoU was signed recently in the presence of Tamil Nadu Chief Minister M.K. Stalin.
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