Chennai: Swedish major Bulten Group, global manufacturer and distributor of fasteners to the automotive industry, as well as other industries such as consumer electronics, through its Indian subsidiary PSM Fasteners India, has signed a memorandum of understanding with the Tamil Nadu government to set up a new fasteners manufacturing facility at Oragadam.
Tamil Nadu Industries Minister T R B Rajaa, in a social media post, stated that the proposed facility will involve an investment of Rs 525 crore and is expected to generate around 2,000 jobs.
The plant will manufacture a complete range of micro-fasteners catering to both the domestic market and exports, with key export destinations including Europe and the US.
The project is aimed at strengthening India’s capabilities in high-precision manufacturing and reducing dependence on imports in critical segments linked to electronics and precision engineering.
Major electronics manufacturers are expected to be among the key customers.
Highlighting Bulten’s more than 150 years of global experience, Rajaa said the investment underlines Tamil Nadu’s position as a preferred destination for precision manufacturing, supported by a strong supplier ecosystem and export-oriented industrial base.
The development adds to the state’s efforts to attract global companies that bring advanced technology, employment and long-term industrial capacity.
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