Chennai: Britannia Industries has signed a Memorandum of Understanding (MOU) with the Tamilnadu government to increase its investment in the State.

The formal signing took place in the presence of Chief Minister Edappadi K Palaniswami. Britannia announced that it has enhanced its investment plans from Rs 300 crore to Rs 550 crore over a period of seven years in Tamilnadu.

With this, the company would also generate a total of 1000 direct indirect employment opportunities in the State. The proposed plant with a land requirement of 85 acres, will manufacture a variety of snacking products, said a press note.

Palaniswami on Monday signed 14 MoUs entailing investments of Rs 10,055 crore with potential to generate employment for over 7,000 people.