Australia's AVID Group to Invest Rs 15,000 Crore in Tamil Nadu

Australian mining and infrastructure conglomerate AVID Group has announced plans to invest approximately Rs. 15,000 crore in Tamil Nadu over the next five years, starting with an initial Memorandum of Understanding (MoU) of Rs. 7,000 crore signed at the Vetri Tamil Nadu Investment Conclave 2026.

The investment will be directed into multi-sector developments, including projects planned near Chennai and Thoothukudi. The conglomerate's proposed ventures span urban infrastructure, experiential tourism, healthcare, and mining components manufacturing.

Under the initial phase of the agreement, the Rs. 7,000-crore commitment is projected to generate around 12,000 direct and indirect jobs across the state.

The agreement stands as one of the largest multi-sector Foreign Direct Investment (FDI) commitments formalized during the investment conclave.