Elgi Equipments signs MoU with the Government of Tamil Nadu
Elgi Equipments has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu.
In a filing to BSE, the company informed “the investment that we plan to do under this MOU, which is non-binding, is to support the future expansion that we need to make to serve the growing global demand and meet our long-term plans.”
The filing further stated, “the intended plan will involve an estimated investment of up to ₹. 250-crore and could also create significant job opportunities in Coimbatore. With this MoU, we expect Government of Tamil Nadu to support us on various infrastructure needs such as land and power and related clearances”.
