Tamil Nadu rakes in Rs 2.42 lakh-cr

The global investors meet, which ended here on Thursday, raked in investment commitments worth Rs 2,42,160 crore, double the target the state government had set for itself. The state has signed 98 agreements, details of which were not disclosed.

Tamil Nadu Chief Minister J Jayalalithaa said the investment figure exceeds the cumulative investments attracted through all pacts signed by the state government over two decades from 1991 to 2011.

She added the government has offered attractive packages to encourage investors to invest in southern districts. Of the total investments, Rs 1,04,286 crore is in manufacturing, of which 50 per cent will be in these districts.

The power sector attracted Rs 1,07,136- crore investments, while the information and technology sector got Rs 10,950 crore, the handloom sector Rs 1,955 crore, agriculture Rs 800 crore and the fisheries Rs 500 crore. The chief minister said solar power attracted Rs 35,356 crore worth investments.

Medium and small enterprises signed pacts worth Rs 16,533 crore.

The state government has nominated senior IAS officers of the state government as facilitators for each of the projects.

An agreement was signed to establish an LNG terminal at Thoothukudi. This project, along with the LNG terminal proposed at Ennore, would secure long-term energy security of the state and further enhance the competitiveness of the manufacturing sector, said Jayalalithaa.

SunEdison has signed a pact to set up 2 giga watt renewable energy plants in Tamil Nadu with an investment of around Rs 14,000 crore.

The project will be set up by Singapore-based IEV Holdings Ltd, with an investment of $500 million in Thoothukudi and it will spread over in 500 acres of land, said Hari Narayanan, chairman of IEV Holdings.

Medium and small enterprises have signed pacts worth Rs 16,533 crore.

Jayalalithaa said the state is already one of the top 10 automobile hubs in the world. Currently, Chennai has the capacity to produce about 1.4 million cars a year, which works out to three cars every minute. With new agreements, Chennai will become the world's largest car manufacturing hub.

Mahindra and Mahindra also signed a memorandum of understanding to invest Rs 2,000 crore, which will be enhanced to Rs 4,000 crore by 2020. The investment is to set up test track and an automotive plant in the state.

Uber has signed a MoU with the government of Tamil Nadu to create over 30,000 entrepreneurial opportunities for independent driver-partners, foster technological innovation to build smart cities and promoting socio-economic development of the state. Wonderla Holidays Limited announced an investment of Rs 300 crore in the next five years in Tamil Nadu. It plans to build an amusement park at a land parcel of 55 acres on OMR-GST region in Chennai.

The state government said it would give statutory clearances within 30 days from the date of application with all supporting documentation to the Guidance Bureau's single-window clearance facility.

The state government has nominated senior IAS officers of the state government as facilitators for each of the projects and they will be responsible for liaising with the investors, said Jayalalithaa, who announced that the state will hold such meets every two years from now.