Rapid Global Business Solutions, Inc. (RGBSI), an American company, is set to establish an advanced electronics and telematics manufacturing unit at Hosur in Tamil Nadu with an investment of ₹100 crore.
A Memorandum of Understanding (MoU) was signed in the presence of Tamil Nadu Chief Minister M.K. Stalin in Chicago in the United States on Thursday (Friday morning IST), an official release from the State government said.
RGBSI provides workforce management, engineering, quality lifecycle management, and IT solutions to various industries. It also offers advanced electronics and technological solutions to multiple sectors.
Tamil Nadu’s Minister for Industries T.R.B. Rajaa, RGBSI chairman and chief executive officer Nanua Singh, chairman and chief officer Ravi Kumar, and other senior officials were present when the MoU was signed and exchanged.
Stalin leaves for Chennai
Mr. Stalin, who has been in the US since the last week of August for investment proposals, completed his trip and left for Chennai on Thursday (Friday morning IST). Official sources said that he and the delegation he led from Tamil Nadu are scheduled to arrive in Chennai on Saturday morning IST.
During Mr. Stalin’s visit to the US, Memoranda of Understanding for investments to the tune of over ₹7,500 crore were signed with 17 companies.
Published – September 13, 2024 02:47 pm IST
