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Sundram Fasteners inks MoU with Govt of Tamil Nadu for Rs 1,411 crore investment

11 Jan 2024 Evaluate

Sundram Fasteners has entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a proposed investment of Rs 1,411 crore during the Tamil Nadu Global Investors Meet 2024, Chennai. The investment is proposed to be made in Sundram Fasteners factories across Tamil Nadu situated at Padi; Mahindra World City, SEZ; Velappanchavadi; Gummidipoondi; Hosur; Aviyur, Madurai and Mittamandagapattu, Villupuram. Among the aforementioned, the investments made in Mahindra World City, SEZ fall under both the Industrial Policy and the EV Policy.

The planned investment spans up to 2027-2028 and will be used for capacity expansion of existing products, including components for electric vehicles. This strategic move solidifies the company's commitment to the state's economic development, generating employment opportunities for over 1500 individuals in Tamil Nadu.

Sundram Fasteners is primarily engaged in manufacture and sale of bolts and nuts, water pumps, sintered products, cold extruded components, hot and warm forged parts, radiator caps and other parts which have applications mainly in automobile industry. 

Sundram Fasteners Share Price

841.80 5.90 (0.71%)
12-Jun-2026 16:59 View Price Chart
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