Brazil's WEG to invest Rs 2,000 crore in Tamil Nadu
The electrical equipment manufacturer will establish a manufacturing unit in Dharmapuri, potentially creating 3,000 jobs.
Brazil-based global electrical equipment manufacturer WEG plans to invest approximately Rs 2,000 crore to establish a consolidated manufacturing unit in Dharmapuri, Tamil Nadu. According to the Industries Department, the project is expected to generate around 3,000 employment opportunities.
The company chose Dharmapuri over Kuppam in Andhra Pradesh for the project. The proposed facility will be located in SIPCOT Dharmapuri on a 100-acre land parcel and will manufacture power generation equipment, industrial drives, and motors for Electric Vehicles (EVs).
The investment follows several rounds of discussions between WEG and the state government. These included an initial meeting with Guidance Tamil Nadu leadership on July 6, a site visit on July 21, and a meeting with Industries Secretary S Vijaykumar on August 18. On October 16, Industries Minister S Keerthana met with WEG leadership in Bengaluru, after which the company confirmed its preference for Tamil Nadu, according to The New Indian Express.
WEG has maintained a manufacturing facility in Hosur since 2011 and pledged Rs 650 crore in 2022 to expand that unit. The new Dharmapuri project is part of efforts to expand the state's industrial footprint into less industrialised regions.