TN mulls signing of MoUs worth Rs 45,000 crore: Minister

Tamil Nadu government was in talks with several companies which have lined up investments to the tune of Rs 45,000 crore and Memorandum of Understandings were expected to be signed shortly, Industries Minister M C Sampath informed the state Assembly today.

On the request of the prospective investors, their details were being kept confidential till signing of the MoUs, he said.

"The MoUs for these projects are expected to be signed shortly," he added.

The minister said some of the major proposals that are under finalisation include petroleum refinery projects with a total investment of Rs 28,800 crore and a Rs 2,500 crore tyre manufacturing plant.

Sampath said the signing of MoUs would be a testimony to the favourable investment climate prevailing in the State.

On the second edition of two-day Global Investors Meet scheduled to be held on January 23 and 24, 2019, he said, the state government sanctioned Rs 73 crore for conducting the event and a Special Officer was appointed to coordinate the activities related to it.

"Various countries including USA, Japan, South Korea, France, the UK, Singapore and few others are being invited to be Partner Nations to the meet," he said.

The first edition of Global Investors Meet was conducted in September 2015 and was formally inaugurated by late Chief Minister J Jayalalithaa.

The State government had signed 98 MoUs totalling investments of Rs 2.42 lakh crore and creating employment opportunities for 4.70 lakh people in that event.