Tamil Nadu attracts investments worth over Rs 46,000 crore

Tamil Nadu has attracted investments worth over Rs 46,000 crore in the last three years from 68 projects, Industries Minister P Thangamani informed the state Assembly today.
"During the last three years, the state government had signed 33 MoUs (Memoranda of Understanding) with an aggregate investment of Rs 31,076 crore," he said.
Besides, the Guidance Bureau under Industries department had attracted an additional investment of Rs 14,896.72 crore in 35 projects through Single Window facilitation. "In total, in the last three years, total investments attracted in 68 projects was Rs 46,602.72 crore," he said.
Detailing his Department's initiatives in this sector, he said land acquisition process for over 9000 acres was on for eight new Industrial complexes.

Further, the first phase of the 120 lakh ton per year Petroleum Refinery project of Nagarjujna Oil Corporation, a joint venture of TIDCO and Nagarjuna Fertilizers Limited at Cuddalore, will be completed and operations expected to commence by 2015.
Of the total investment of the estimated Rs 25,000 crore, Rs 7,400 crore has been invested till March 2014, he said.

Further, Tamil Nadu Industrial Development Corporation planned to promote a Plastics Industries Park in Tiruvallur district.
This initiative will have specialised infrastructure required to accommodate about 70 manufacturing units and "when fully developed, this Park will be able to attract investments of about Rs 2,100 crore and is expected to generate employment for about 25,000 persons," Thangamani said.

Thangamani said despite neighbouring Andhra Pradesh luring investors to Tada, which was located close to the Chennai Port and Airport, businessmen were willing to invest in Tamil Nadu for its 'industrial peace and law and order.'
Japanese firms, in particular, saw Tamil Nadu as a favourable investment destination, he said, adding, 523 companies from that country have invested in the state so far.