Tata Electronics, Pegatron among Rs 52,258 cr proposals cleared by TN govt

The cabinet also cleared the government's new industrial policy

Tata Electronics and Apple Inc's contract manufacturer Pegatron Corporation have obtained the Tamil Nadu Government's approval for their proposed investments in the state. The two proposal are among the 34 investment plans worth Rs 52,258 crore that were cleared by the Tamil Nadu Cabinet today.

The state cabinet also cleared the Government’s new industrial policy for 2021 when it met this evening under the Chief Minister's chairmanship

The proposed investments have the potential to create 93,935 jobs. They are mostly in sectors like electronics, auto mobile and auto components, including electric vehicles, and solar cell manufacturing.

Some of the major investments approved today include Tata Electronics' proposal to invest Rs 5,763 crore and create 18,250 jobs in Krishnagiri district for making mobile phone components.

Apple's contract manufacturer Pegatron Corporation of Taiwan will invest Rs 1,100 crore in phase-I of a mobile phone making unit in Chengelpet district and create 14,079 jobs. Luxshare of Taiwan, will create 4,000 jobs by investing Rs 745 crore in an electronic parts and wearables unit in Sriperumbudur, thus reviving the defunct Motorola plant.

Sun Edison will invest Rs 4,629 crore and employ 5,397 persons in the state to produce solar PV modules. Ola Electric will invest Rs 2,354 crore and create 2,182 jobs in SIPCOT, Krishnagiri district for making electric vehicles and batteries.

German firm Eickhoff Wind Ltd will invest Rs 621 crore and employ 319 persons to make gearboxes for wind energy production, near Chennai.  This is a relocation of the company’s production facilities from China and Germany.

BASF of Germany, one of the world’s largest chemical companies, will invest Rs 345 crore and create 235 jobs to make auto emission catalysts in Chengalpet district.

Lucas TVS will invest Rs 2,500 crore and employ 3,500 persons for making Lithion ion batteries in Tiruvallur district.

Daicel Corporation, a Japanese company, will set up India’s, first airbag inflator manufacturing unit at One Hub Chennai, in Chengalpet district with an investment of Rs 358 crore and create 180 jobs. LS Automotive, a Korean company will manufacture automotive switches in Tiruvallur district with an investment of Rs 250 crore, employing 200 persons.

US-based AutolivInc will invest Rs 100 crore and employ 400 persons, to make passenger safety products (auto components) in SIPCOT Park, Cheyyar, Tiruvannamalai district.

Data Patterns will invest Rs 303.52 crore and create 703 jobs in the Chennai node of the Tamil Nadu Defence Industrial Corridor to make defence and aerospace products.