Sundram Fasteners to invest ₹1,411 crore on expansion

Sundram Fasteners Ltd. plans to invest ₹1,411 crore in Tamil Nadu for capacity expansion, including components for electric vehicles.

Sundram Fasteners Ltd. (SFL) has drawn up plans to invest up to ₹1,411 crore in Tamil Nadu for capacity expansion of existing products, including components for electric vehicles.

The investment is proposed to be made in SFL’s factories across the State at Padi, Mahindra World City, Velappanchavadi, Gummidipoondi, Hosur, Madurai and Villupuram.

The investments made in Mahindra World City, SEZ fall under both the industrial policy and the EV policy. The planned investment spans up to FY27-28, one of the largest suppliers to OEMs and automakers globally, SFL said in a statement.

In this direction, SFL recently entered into a MoU with the State Government during the Global Investors Meet 2024 held in Chennai.

This strategic move solidifies the company’s commitment to the state’s economic development, generating employment opportunities for over 1,500 individuals in Tamil Nadu, SFL said.

“As we move forward, we remain committed to producing and delivering high-quality products, creating a positive impact on our community, and contributing to the State’s overall economic prosperity,” said MD Arathi Krishna.