FCC

Tamil Nadu govt gets Rs 28,508 cr via companies for 49 projects

2021-07-21

The Tamil Nadu government, through companies, received Rs 28,508 crore for 49 projects that are expected to provide job opportunities to 83,482 people.

The state government has exchanged 35 Memorandum of Understandings (MoUs) with an investment commitment of Rs 17,141 crore that will help to employ 55,054 people.

Chief Minister M K Stalin laid the foundation for nine projects with an investment commitment of Rs 4,250 crore and employing 21,630 people in the Investors Conclave.

According to an official statement, Stalin has inaugurated five projects of Rs 7,117 crore and employment to 6,798 people. These 49 projects generated a total investment of Rs 28,508 crore and employment to 83,482 people.

Out of the 35 MoUs, the investments are in the power plant, electronics, industrial parks, auto-components, IT and ITeS services, manufacturing, food processor, pharmaceuticals, footwear, and textiles.

General Electric plans to establish a centre of excellence (CoE) to enhance the productivity of aircraft and aeronautical components for aerospace and defence industries using advanced technologies. General Electric and Tamil Nadu Industrial Development Corporation (TIDCO) signed an MoU in the presence of the states' Chief Minister.

JSW Renew Energy has an investment commitment of Rs 3,000 crore to set up a 450 MW wind power generator in the state. ZF Wabco will invest Rs 1,800 crore to set up auto-components at State Industries Promotion Corporation of Tamil Nadu (SIPCOT), Oragadam Phase 2. Srivaru Motors will invest Rs 1,000 crore to set up an EV two-wheeler manufacturing centre, while Tata Consultancy Services (TCS) will invest Rs 900 crore at SIPCOT IT Park Siruseri.

According to a statement, Capita Land has an investment commitment of Rs 1,200 crore to set up a data centre in Chennai. Tube Investments of India (TII) will invest Rs 140 crore for establishing a three-wheeler EV facility.

The five projects inaugurated by Stalin include Vikram Solar's new solar photovoltaic (PV) module manufacturing centre with an investment of Rs 5,317 crore at Oragadam.

Image Source

Also read: Karnataka enters pact with 23 firms for Rs 28k cr infra investments