- VinFast opens 400-acre EV plant in Tamil Nadu
- Chief Minister makes key announcements to transform Thoothukudi and Tirunelveli districts
NE BUSINESS BUREAU
THOOTHUKUDI, AUG 4
The Tamil Nadu government was systematically working towards attracting huge investments and generating employment in a big way so as to transform the state through economic progress, Chief Minister M K Stalin said here on Monday.
The numerous initiatives taken by the government have ensured that the industrially backward southern districts in the state become equipped and keep pace with the industrial development in other parts of the state, he claimed.
“We are paying more attention to progress in all sectors such as semiconductor manufacturing, electric vehicle manufacturing, solar cells, green hydrogen production, and information data centers,” the Chief Minister said while speaking at TN Rising Investors Conclave here.
Through these sectors providing highly-paid jobs, a turnaround could be ensured in the economic growth and production environment of Tamil Nadu. “By setting up factories that provide a large number of jobs in underdeveloped districts, the per capita income of the people of that region will increase,” Stalin said.
The industrialisation of the southern districts was the dream of late Chief Minister M Karunanidhi. “That’s why I said at the inauguration of the VinFast factory that this day has become a golden letter day in the development of the south,” he said and recalled that immediately after coming to power in 2021, he had set a target to achieve one trillion dollar economy by 2030.
He made key announcements to transform Thoothukudi and Tirunelveli districts. The four announcements are: establishing a space (industrial and propellants) park in Thoothukudi district on an area of 250 acres to promote the production and technological development of equipment required for the space sector, form a special purpose vehicle to develop a shipyard and repair centre, setting up a common facility centre in Thoothukudi and Tirunelveli districts at a cost of Rs 5.59 crore for Moringa export and cultivation, and establishing a zonal unit of Tamil Nadu Food Processing and Agri Export Promotion Corporation in Tirunelveli district.
The government’s great efforts in the last four years helped to attract 898 projects with an investment of Rs 10.30 lakh and employment potential of 32.945 lakhs, he said. Tamil Nadu continued to attract transformative investments and on Monday the state signed 41 MoUs for an investment of Rs 32,553.85 crore, the government said.
The MoUs were signed in the presence of Chief Minister M K Stalin and state Industries Minister T R B Rajaa at the TN Rising Investors Conclave. The MoUs have a potential to generate 49,845 jobs.
Also, the Chief Minister inaugurated four major projects for a total investment of Rs 1,230 crore aiming to create 3,100 new jobs. Further, the CM gave appointment orders to persons from three companies – Tata Power Solar, Infinix and Pinnacle Info-Tech here.
State Ministers: K K S R Ramachandran, Geetha Jeevan, D M Anbarasan, Anitha Radhakrishnan, and Thoothukudi MP Kanimozhi, Chief Secretary N Muruganandam, Additional Chief Secretary Atul Anand, and district collector K Ilambhavat, were among those who participated.
VinFast opens 400-acre EV plant in Thoothukudi, Tamil Nadu
Vietnamese electric vehicle (EV) manufacturer VinFast has inaugurated its first assembly plant in India at the Sipcot Industrial Park in Thoothukudi, Tamil Nadu. Marking a major milestone in the company’s global expansion, the facility is VinFast’s third operational plant and its first outside Vietnam, signalling the brand’s long-term commitment to India and its emergence as a strategic player in the global EV ecosystem.
The $2 billion plant, its first in India and third globally, has been commissioned within 17 months of signing an agreement with the Tamil Nadu government.
Tamil Nadu Chief Minister MK Stalin signed the first VF7 electric SUV to roll out from VinFast’s India plant during the inauguration ceremony held at Thoothukudi.
Speaking at the inauguration, Pham Sanh Chau, CEO of VinFast Asia, said, “The VinFast Tamil Nadu plant marks a strategic milestone in our long-term commitment to the Indian market. It establishes a strong foundation for sustainable growth and positions us to offer high-quality, competitively priced electric vehicles to Indian consumers. Looking ahead, the facility will expand its production capacity to meet rising demand. We aim to develop it into VinFast’s largest export hub for South Asia, the Middle East, and Africa. In fact, we’ve already secured initial orders from several countries across these regions. In close collaboration with the Tamil Nadu government, VinFast is working to transform the area into the ‘EV capital of South Asia’—supporting both the dynamic domestic market and our broader regional ambitions.”
