Tamil Nadu of India". Major global automobile companies including BMW, Ford, Robert Bosch, Renault-Nissan, Caterpillar, Hyundai, Mitsubishi Motors, and Michelin as well as Indian automobile majors like Mahindra & Mahindra, Ashok Leyland, Hindustan Motors, TVS Motors, Irizar-TVS, Royal Enfield, MRF, Apollo Tyres, TAFE Tractors, DaimlerChrysler AG Company also invested () 4 billion for establishing new plant in Tamil Nadu. Tamil Nadu is one of the highly industrialised states in India. Over 11% of the "S&P CNX 500" conglomerates have corporate offices in Tamil Nadu. Many heavy engineering and manufacturing companies are located in and around the suburbs of Chennai. Bharat Heavy Electricals,
State Industries Promotion Corporation of Tamil Nadu State Industries Promotion Corporation of Tamil Nadu The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) (), Limited is an institution owned by the Government of Tamil Nadu. The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) was formed in the year 1971, to promote industrial growth in the State and to advance term loans to medium and large industries The Functions of State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) are: SIPCOT has established industrial complexes in 16 areas, according to the SIPCOT webpage. These include: A new SIPCOT is going to be established in Dharmapuri,Thiruvannamalai