Anand Group, a leading manufacturer of world-class auto components and systems, plans to invest INR 987-crore to expand its manufacturing capabilities in Tamil Nadu. The Group signed a Memorandum of Understanding (MoU) with the state government to this effect at the recent Tamil Nadu Global Investors Meet 2024 held in Chennai.
The investment under this MoU will be made by ANAND Group and its JV partners Inalfa Gabriel Sunroof Systems Private Limited, HL Mando ANAND India Private Limited, Gabriel India Limited, HL Klemove, and ANAND Mando E-Mobility Private Limited.
As per the agreement, Anand Group companies will focus on expanding their manufacturing capabilities for various auto components, including Sunroof Systems, Electronic Power Steering, Integrated Dynamic Brake System, and E-Motors for two-wheeler applications, the company said in a press release.
Anjali Singh, Executive Chairperson, Anand Group, said, “We have had a long-standing commitment to Tamil Nadu since the 1990s and this continues. The state’s favourable business environment, strong infrastructure, and skilled talent pool have created an attractive climate for new investments. We will leverage our partners’ strengths to offer cutting-edge manufacturing capabilities to Original Equipment Manufacturers (OEMs).”
S Sarathi, Group President and Chief Assurance Officer, Anand, said, “We are glad to announce these new projects in the state that is rightly known as the Detroit of India. This is the fourth time that Anand Group is signing an MoU with the Tamil Nadu State Government; a testament to the Tamil Nadu government’s proactive approach towards creating a favourable industrial climate and the ease of doing business.”
To date, the Anand Group, through its joint venture companies, has created more than 6,000 job opportunities in Tamil Nadu. The latest investment is anticipated to generate approximately 2,000-plus job opportunities over a period of seven years.
HL Mando Anand, a JV between HL Mando Korea and Anand Group in India, just completed the execution of earlier MoUs signed in 2019 and 2020 for total investment of approx. INR 1,000 crore and provided employment opportunities to over 500 people in the region.
