Sundram Fasteners expands footprint in Tamil Nadu with Rs 1,411cr investment

Sundram Fasteners Limited, a leading supplier to OEMs and automakers globally, has entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu. The announcement was made during the Tamil Nadu Global Investors Meet 2024 in Chennai, marking a significant investment of INR 1,411 crores.

The proposed investment will be distributed across Sundram Fasteners Limited factories situated in various strategic locations in Tamil Nadu, including Padi, Mahindra World City, SEZ, Velappanchavadi, Gummidipoondi, Hosur, Aviyur, Madurai, and Mittamandagapattu, Villupuram. Notably, the investments in Mahindra World City, SEZ, will benefit from both the Industrial Policy and the EV Policy.

Spanning up to 2027-2028, this investment is aimed at capacity expansion for existing products and components for electric vehicles. This strategic move not only reinforces the company’s commitment to the state’s economic development but also promises to create over 1500 employment opportunities in Tamil Nadu.

Arathi Krishna, Managing Director of Sundram Fasteners Limited, expressed her views on the investment, highlighting Tamil Nadu’s supportive government and the strategic importance of this investment. She emphasized the company’s pride in expanding growth opportunities and reaching new milestones, with a strong commitment to producing high-quality products, impacting the community positively, and contributing to the state’s overall economic prosperity.

Headquartered in Chennai, Sundram Fasteners Limited has a 60-year track record of leadership. With a diversified product line and world-class facilities in 3 countries, the company has established itself as a supplier of choice in the automotive segments globally. Its products range from high-tensile fasteners to components vital for electric vehicles, showcasing its technological competencies in forging, metal forming, machining, heat treatment, and assembly.