TN, motorola sign agreement
Chennai, Jun 7 (UNI) A Memorandum of Understanding (MoU) was today signed between Tamil Nadu Government and US based Motorola, in the presence of Chief Minister M Karunanidhi and Union Minister for Information Technology Dayanidhi Maran at state secretariat.
Motorola has proposed to establish a project to produce various telecommunication equipment and products including mobile handsets and accessories at SIPCOT Sriperumbudur Industrial Park near here with an initial investment of about Rs 135 crores, an official release said.
This project is expected to provide-direct employment to about 7250 persons. It is expected that the project will also have great multiplier effect in terms of growth of ancillaries and other vendors.
With Motorola, a world famous company deciding to invest in Tamil Nadu, it is expected that Tamil Nadu will attract more foreign investment by other multi national companies, the release said.
Motorola, USA is a company with golbal presence and sales turnover of 36.8 billion dollar (Rs 165 000 crores) in 2005. It is a leading provider of integrated radio communications and information solutions. It currently employs about 68000 persons and has 320 facilities in 73 countries, it said.
On behalf of Government of Tamil Nadu, Mr Shaktikanta Das, Secretary-Industries signed the MoU while Mr Firdose Vandrevala, Chairman, Motorola India Private Limted and Mr Stuart Reed, Executive vice-president, Motorola, Inc, Signed on behalf on Motorola, the release added.
UNI WS VD HT2242