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Tamil Nadu Clears Rs 441.25 bn Projects, Including Three Renewable Policies

2024-08-14

The Tamil Nadu Cabinet approved 15 investment proposals totalling Rs 441.25 billion, which are anticipated to create over 24,700 jobs in the state. During the 16th cabinet meeting, chaired by Chief Minister MK Stalin at the secretariat, the cabinet also approved three renewable energy policies as part of an initiative to achieve a power generation target of 20,000 MW by 2030. Finance Minister Thangam Thennarasu provided this update.

After the meeting, Thennarasu announced that on August 17, the Chief Minister would inaugurate an industrial housing facility, the first of its kind in India, for 18,720 employees of Foxconn. This facility, constructed at an estimated cost of Rs 7.06 billion, is located at the SIPCOT Vallam Vadagal industrial estate in Sriperumbudur, Kancheepuram district. The cabinet approved projects spanning various sectors, including electronics, food processing, motor vehicles, and battery manufacturing.