Jindal Advanced Materials To Invest Rs 1,000 Cr In Tamil Nadu Plant
Jindal Advanced Materials (JAM), on Monday, said that it has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to set up a new manufacturing plant – its first such facility in South India – at a strategic investment of nearly Rs 1,000 crore.
The state-of-the-art facility spread over an area of 250 acres will come up in Trichy and generate up to 3,000 jobs.
According to the official statement, JAM will produce composite materials at the plant, which is the company’s fourth plant in India and is expected to be operational over the next seven years in a phased manner. As per the MoU, the Tamil Nadu government has pledged unwavering support ensuring necessary infrastructure and uninterrupted power supply.
Director, JAM, C P Agrawal said, “This MoU is instrumental in elevating our customer service experience in the South. Tamil Nadu’s robust infrastructure, Trichy’s proximity to the port for enhanced trade opportunities, and the existing ecosystem in infrastructure and aerospace sectors position us well to expand our commitments further. Our focus is on fostering sustainable development and technological innovation through our offerings.”
MD & CEO, Guidance, Industries, Investment Promotion & Commerce Department, Government of Tamil Nadu, V Vishnu (IAS) said, “I am grateful to the investors, thought leaders, policymakers and academia for understanding our vision as is reflected in the success of the Tamil Nadu Global Investors Meet 2024. The Tamil Nadu Defence Industrial Corridor already has and will solidify further industries in infra and aerospace, which is a focus area for JAM as well. Given Tamil Nadu's central connectivity to the rest of South India, the MoU with JAM is poised to amplify the city's industrial growth.”
Globally, composites have gained preference due to their distinct advantages, such as being three times lighter, twice as strong, corrosion-resistant, and non-conductive.
