Eaton to Set Up R'D Center in Tamil Nadu, Investing Rs 200 cr
By Rediff Money Desk, Chennai Sep 04, 2024 15:14
Eaton to invest Rs 200 crore in Tamil Nadu for a new Research and Development Centre, creating 500 jobs and focusing on digitization, electrification, and energy transition.
Chennai, Sep 4 (PTI) Over century-old intelligent power management company Eaton would establish its research and development centre in Tamil Nadu, reinforcing the company's commitment to strengthen its footprint in the country.
The new facility to be spread across 1 lakh sq ft would come up in neighbouring Sholinganallur, Chengalpet district and expected to be completed by 2026 end.
Chief Minister M K Stalin, Minister for Industries TRB Rajaa who are currently in the United States to woo investors to the state signed a memorandum of understanding with top officials of Eaton.
In a social media post, Stalin said the company would invest Rs 200 crore in Tamil Nadu for setting up the Research and Development centre, that would create 500 new jobs.
"Eaton has consistently invested in India's talent and technology infrastructure, positioning the country as a critical hub for our global engineering and innovation efforts." said Eaton Country Director-India Philipose Jacob -- Crouse-Hinds, B-Line, Oil and Gas.
"Our Crouse-Hinds and B-Line office in India has been at the forefront of developing sustainable and innovative power management solutions that address some of the world's most pressing energy challenges for harsh and hazardous environments," Jacob said in a company statement on Wednesday.
The Crouse-Hinds and B-Line facility in Tamil Nadu would focus on advancing Eaton's capabilities in digitisation, electrification and energy transition, aligning with the company's broader goals of driving sustainability and innovation globally.
On signing the MoU with Eaton, Minister for Industries, TRB Rajaa said, "the Government of Tamil Nadu is pleased to partner with Eaton on their expansion plans. This initiative not only aligns with our vision of transforming the State into a hub of innovation and industrial growth but also showcases our commitment to the success of global leaders like Eaton in our region."
Eaton's expansion in the region would bring economic benefits, including job creation and the development of a highly skilled local force, he said.
"We are confident this partnership will work as a stimulus for further technological development and industrial growth in Tamil Nadu, reinforcing the state's position as a leading destination for global investments," he added.
The new facility to be spread across 1 lakh sq ft would come up in neighbouring Sholinganallur, Chengalpet district and expected to be completed by 2026 end.
Chief Minister M K Stalin, Minister for Industries TRB Rajaa who are currently in the United States to woo investors to the state signed a memorandum of understanding with top officials of Eaton.
In a social media post, Stalin said the company would invest Rs 200 crore in Tamil Nadu for setting up the Research and Development centre, that would create 500 new jobs.
"Eaton has consistently invested in India's talent and technology infrastructure, positioning the country as a critical hub for our global engineering and innovation efforts." said Eaton Country Director-India Philipose Jacob -- Crouse-Hinds, B-Line, Oil and Gas.
"Our Crouse-Hinds and B-Line office in India has been at the forefront of developing sustainable and innovative power management solutions that address some of the world's most pressing energy challenges for harsh and hazardous environments," Jacob said in a company statement on Wednesday.
The Crouse-Hinds and B-Line facility in Tamil Nadu would focus on advancing Eaton's capabilities in digitisation, electrification and energy transition, aligning with the company's broader goals of driving sustainability and innovation globally.
On signing the MoU with Eaton, Minister for Industries, TRB Rajaa said, "the Government of Tamil Nadu is pleased to partner with Eaton on their expansion plans. This initiative not only aligns with our vision of transforming the State into a hub of innovation and industrial growth but also showcases our commitment to the success of global leaders like Eaton in our region."
Eaton's expansion in the region would bring economic benefits, including job creation and the development of a highly skilled local force, he said.
"We are confident this partnership will work as a stimulus for further technological development and industrial growth in Tamil Nadu, reinforcing the state's position as a leading destination for global investments," he added.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.50 (+ 3.60)
- 98491250
- GTL Infrastructure
- 2.32 (+ 4.98)
- 74918021
- Advik Capital
- 3.25 (+ 7.97)
- 34086998
- Jaiprakash Power Ven
- 20.03 (+ 8.45)
- 26873790
- Spicejet Ltd.
- 62.80 (+ 9.10)
- 26113604
MORE NEWS
Tata Technologies & BMW JV for Automotive...
Tata Technologies and BMW Group launch joint venture, BMW TechWorks India, to innovate...
PepsiCo India Revenue Growth: Double-Digit Q3 Rise
PepsiCo reports double-digit organic revenue growth in India for Q3 2024, driven by...
Employment Verification Discrepancies Spike:...
AuthBridge report reveals a significant increase in employment verification...