Bengaluru's Zetwerk likely to invest Rs 5,000 crore in solar cell plant in Tamil Nadu

Hosur: Bengaluru-headquartered Zetwerk Manufacturing Businesses Private Limited is likely to invest Rs 5,000 crore to set up a solar cell manufacturing facility in Tamil Nadu, giving a boost to the state government’s efforts to emerge as a major hub for green exports. 

Four electronics firms – three based in Bengaluru – will also invest a total of Rs 875 crore in setting up new units or expanding their existing operations in Krishnagiri district, generating 2,450 jobs.

The above investments are part of over 90 MoUs, including 40 in the MSMEs, expected to be signed between companies and the Tamil Nadu government at the first-ever TN Rising Investment Conclave in the industrial city of Hosur, just 40 km from Bengaluru, on Thursday. The total investments to be pledged at the event is about Rs 24,000 crores, generating jobs for 49,000 people. 

The investment pledges are likely to be made in a range of sectors, including electronics, solar cell manufacturing, and electric vehicles.

Chief Minister M K Stalin will oversee the signing of MoUs, inaugurate new industries, and make several announcements for the infrastructural development of the burgeoning city of Hosur, which is fast emerging as a hub for electric vehicles (EVs) and electronics manufacturing.

Sources told DH that Zetwerk Manufacturing Businesses Private Limited’s solar cell manufacturing facility, which will involve an investment of Rs 5,000 crore, will generate 3,000 jobs. “The project will augment the domestic solar value chain by catalysing ancillary industries such as glass, EVA, back sheets, silver paste, and machinery, and boost energy security through green exports,” a source aware of the developments told DH.

The fresh investment by Zetwerk will boost the ‘Make in India’ initiative at a time when the government is pushing firms nationwide to focus on manufacturing for the world. The source added that Zetwerk will, in all probability, make the investment in the Hosur-Krishnagiri region. “The exact location in Tamil Nadu is being worked out.”

The Tamil Nadu government has been positioning Hosur as a key investment destination in the state after Chennai, by bringing in key players like Tata Electronics Private Limited, which assembles high-end iPhones at its Krishnagiri facility, Taiwan’s Delta Electronics, and home-grown EV majors such as Ather and Ola. The government has also finalised the location for an exclusive airport for Hosur, in addition to considering a metro network to Bengaluru.

HI-Q Electronics Private Limited is likely to invest Rs 425 crore to establish a state-of-the-art PCB manufacturing facility in Hosur, focusing on advanced electronics manufacturing capabilities and production infrastructure. This project will generate 400 jobs and further strengthen Tamil Nadu's growing electronic component manufacturing ecosystem – the state led the country’s electronic exports, hitting a record USD 12.62 billion in the 2024-2025 fiscal year.

ASM Technologies Limited will invest Rs 250 crore to establish a manufacturing facility in Hosur that will focus on LED equipment design and manufacturing for the electronics, semiconductor, solar, and allied industries. This will generate 1,100 jobs.

Chennai-based JLK Automation (India) Private Limited will invest Rs 100 crore to establish a facility to make precision automation machines in Krishnagiri, generating 450 jobs. “The facility will focus on manufacturing Final Assembly Test Equipment for consumer electronics, showcasing advanced automation capabilities and precision manufacturing infrastructure,” the source added.

The source further said that Bengaluru-based Zettaone Technologies India Private Limited will invest an additional Rs 100 crore to establish a ESDM (Electronic System Design & Manufacturing) facility in Krishnagiri, generating 500 jobs.