The company had earlier evaluated multiple states and following multiple rounds of discussions between the company’s leadership and the Minister for Industries, Tamil Nadu, the Additional Chief Secretary, Industries and the MD Guidance, it has confirmed Tamil Nadu as its preferred destination for consolidating its manufacturing expansion, an official release from the state government said.
The investment is expected to provide a significant industrial impetus to the backward region of Dharmapuri while strengthening the state’s manufacturing capabilities and employment base, it said.
The proposed investment will generate substantial direct and indirect employment opportunities for local youth and women, promote skill development and reduce migration to established industrial centres, the state government said.
It will act as a catalyst for developing an ancillary industrial ecosystem by attracting suppliers, strengthening local MSMEs and creating new business opportunities. The project will accelerate industrialisation in Dharmapuri, a relatively backward district, reduce regional economic disparities and promote inclusive socio-economic development, in alignment with the Vetri Tamizhagam – Vision Document’s objective of ensuring balanced development across the State, it added.
WEG has grown from a motor manufacturer into a diversified global engineering company serving more than 135 countries. The company was founded in 1961 and employs more than 50000 people globally.
WEG currently has manufacturing facility in Hosur.
WEG India is the Indian subsidiary established in 2008 and the company inaugurated its first manufacturing facility in Hosur, Tamil Nadu, in 2011. The company earlier signed memorandum of understanding in July 2022 for an expansion of its SIPCOT Hosur unit to invest Rs. 650 crores and provide employment for 650 people.
