Daicel Safety Systems is set to expand its unit near Chennai to manufacture airbag inflators.
A memorandum of understanding was signed between Guidance Tamil Nadu, the investment promotion agency of the State government, and Daicel at Osaka in Japan on Friday. Chief Minister M.K. Stalin and Daicel Safety Systems Director Ken Bando were present at the event.
During his speech at a conference of senior officials of about 80 Japanese companies, organised jointly with Japan External Trade Organisation, Mr. Stalin said five Japanese companies had signed MoUs for ₹5,596 crore in investments that would provide employment to about 4,200 people.
