Tamil Nadu has secured nearly Rs 3 trn investments till date: Govt

Tamil Nadu has attracted fresh investments to the tune of nearly 3 lakh crore from various companies by signing 240 new projects till date, the state government said on Wednesday.

The new investments are expected to generate over 4 lakh new jobs in the state.

With a vision of growing Tamil Nadu into a USD 1 trillion economy by 2030, the DMK government, after assuming office on May 7, 2021, has been engaged in taking up new measures to boost industrial activity in the state.

Chief Minister M K Stalin, along with a host of delegates, have been on overseas trips to invite multinational companies to set up shop in the state.

"Till date, this government has attracted Rs 2,96,681 lakh crore investments that will create 4,14,836 new jobs and signed 240 new projects," an official release here said on Wednesday.

In a bid to further enhance industrial production, an ultra-modern integrated manufacturing facility is being set up by SOL India Pvt Ltd at an outlay of Rs 145 crore, for which Stalin laid the foundation stone on Wednesday.

Under the expansion plan, SOL India Pvt Ltd will take up production of liquid nitrogen and liquid argon at its facilities located at the SIPCOT (State Industries Promotion Corporation of Tamil Nadu) Stage 3 industrial park in Ranipet.

Currently, SOL India Pvt Ltd is engaged in production of industrial gases in Tamil Nadu.

With the setting up of a new integrated complex, the production would be scaled up to 200 tonnes per day from the current 80 tonnes.

SOL India Pvt Ltd is a joint venture between SICGIL India Ltd, a carbon dioxide maker, and Italy-based SOL S.p.A. SICGIL India Pvt Ltd, a manufacturer and supplier of medical, industrial and speciality gases, according to the company website.

The company has manufacturing facilities to produce medical oxygen at Pudukudi in Thanjavur district and also in Ranipet district.

Minister for industries T R B Rajaa, Chief Secretary Shiv Das Meena, Industries Department Additional Chief Secretary S Krishnan and senior government officials were present on the occasion.