TN govt inks 8 MoUs, attracts over Rs 10,000 cr investments
The new projects to come up in Kanchipuram, Coimbatore, Ranipet, Villupuram, Chengalpet and Erode will create 13,507 new jobs
Amid the ongoing hectic task of preventing the spread of coronavirus pandemic, the Tamil Nadu government, in a big push to industrial development, inked MoUs with eight companies involving an investment of more than Rs 10,000 crore and creating more than 13,000 jobs.
The MoUs were signed at the State Secretariat in the presence of Chief Minister Edappadi K Palaniswami.
The new projects to come up in Kanchipuram, Coimbatore, Ranipet, Villupuram, Chengalpet and Erode districts involved a total investment of Rs 10,399 crores and would create 13,507 new jobs.
While five MoUs were signed directly, the other three were done through video-conferencing.
Today’s signing of pacts comes in the backdrop of the State government signing 17 MoUs with companies from Germany, Finland, Taiwan, France, South Korea, Japan, China, USA, Australia, the United Kingdom and The Netherlands on May 27 attracting Rs 15,128 crore investments and 47,150 new jobs.
Tamil Nadu accounts for 18.63% of the Rs 97,859 crore of investments envisaged to execute 1,241 projects in the country in the first quarter.
The MoUs include Solar Cells and Modules manufacturing facility by Vikram Solar (Rs 5,423 investment, 7.542 jobs) at Orgadam in Kanchipuram district; Industrial park by CGD Sathrai (Rs 250 crore investment, 1550 jobs) at Wallajahbad in Kanchipuram; Ductile Iron Foundry by Aquasab (Rs 200 crore investment, 400 jobs) at Coimbatore; Industrial Park in a 125 acre area by NDR Infrastructure at Ranipet (Rs 200 crore investment, 400 jobs); a cashewnut processing centre by GI Agro Tech at Marakkanam area in Villupuram district (Rs 36 crore investment, 465 jobs); Data Information Centre at Singaperumalkovil in Chengalpet district by Yotta of Hiranandani Group (RS 4,000 crore investment, 2,500 jobs); Air Compressor manufacturing facility at Coimbatore by Elgi Equipments (Rs 250 crore investment, 600 jobs); and foundry expansion project by JS Auto Cast at Sipcot Perunthurai Industrial Park in Erode district (Rs 40 crore investment).