16 companies intended to invest another Rs 42,400 cr in TN

Having attracted over Rs 26,000 crore of investments since 2011, Tamil Nadu government today said 16 companies intended to invest another Rs 42,400 crore and these were likely to take shape in a month or two.
In the last two and a half years since her government took over, Tamil Nadu has signed memoranda of understanding and gave single-window clearance for investments worth Rs 29,558 crore, both foreign and domestic, and Rs 10,660 crore of this had been invested following allocation of land and granting of other approvals, Chief Minister J Jayalalithaa said.
"Further, as new investments, 16 companies have expressed interest to invest Rs 42,400 crore. These will be finalised and take shape in a month or two," she told the Assembly.

The businesses have resulted in over 10,000 direct and "thousands of" indirect job opportunities in the state, she said, while replying to the motion to thank the Governor for his address to the Assembly on January 30.
Tamil Nadu attracted the largest Japanese investments in states in India, with over 300 Japanese companies doing business here, she said.
The Japan External Trade Organisation (JETRO) had facilitated 18 big companies from that country to invest Rs 5,900 crore after her government took over, she said.
Rebutting DMK leader M K Stalin's claim that MoUs were signed and single-window clearance given to 54 companies for Rs 66,664 crore worth of investments during his party's rule from 2006-11, she said that Rs 15,982 crore worth investments never took off.

"For instance, TATA Steel, which had agreed to invest Rs 2500 crore, did not invest a single rupee," she said adding it was the same case with IOCL (Rs 4320 crore), Signet Solar (Rs 2000 crore) and Moser Baer Infrastructure and Developers India Ltd (Rs 2000 crore), saying they had also not made any investments.