NE BUSINESS BUREAU
CHENNAI, DEC 14
The Tamil Nadu government on Monday signed Memoranda of Understanding (MoUs) for 18 projects and laid foundation stones, besides inaugurating other projects, for a total investment of Rs 24,458 crore. These projects are likely to create 54,218 jobs, the government said.
Torrent Gas, Foxconn, Voltas and Ola are among the firms that will invest in gas supply, AC manufacturing and electric mobility, among others, according to a press release here. The 18 MoUs, worth Rs 19,955 crore, were signed at an event presided over by Chief Minister Edappadi K Palaniswami.
Torrent Gas Chennai Pvt Ltd is planning to establish City Gas Distribution network here and neighbouring Tiruvallur at a proposed investment of Rs 5,000 crore with an employment potential for 5,000 people, it said. Foxconn would set up a mega industrial housing project at Sipcot Vallam Vadagal, while US-based First Solar will establish a solar module manufacturing facility at a proposed investment of Rs 4,185 crore. Voltas (AC and commercial refrigeration products facility), Mylan Laboratories (injection manufacturing project) and Ola ElectriC Mobility are among companies that would set up units in different districts of the state.
Palaniswami also laid foundation stones and inaugurated projects that would fetch an investment of Rs 4,503 crore with employment potential of 27,709 jobs. These include Adani Data Centre and SPR IT Park Zone and Market Plaza, the latter being committed under a MoU signed at the Global Investors Meet, 2019.
“The cumulative investment in the above 24 projects (all included) is about Rs 24,458 crore and the employment potential will be about 54,218 people,” the release said. Speaking on the occasion, Palaniswami said that due to concerted measures and pro-people initiatives, Tamil Nadu was not only able to bring the COVID-19 pandemic under control, but also lead in economic restructuring. For the first time in India, global investors were able to view the lands in the SIPCOT industrial parks in a three- dimensional way through internet, he said.
“In this way, the nature of the land, including road infrastructure facilities can be studied in detail and the application for land can be submitted online,” he said, referring to the GIS mapping of about 33,000 acres. In the current year alone, the state has signed 55 MoUs for a total investment of Rs 40,719 crore, he added.
