TN govt approves Rs 44,125 cr worth projects, expected to generate 24K jobs

The Tamil Nadu Cabinet on Tuesday gave its approval for 15 investment proposals of a total value of Rs 44,125 crore that are expected to generate over 24,700 jobs in the state.

The 16th cabinet meeting chaired by Chief Minister M K Stalin at the secretariat here also granted its nod to three renewable energy policies as part of a goal to achieve 20,000 MW power generation by 2030, according to Finance Minister Thangam Thennarasu here.

Emerging from the meeting, Thennarasu said that on August 17 the chief minister would be inaugurating a first-of-its-kind-in-India industrial housing facility for 18,720 employees of Foxconn built at an estimated cost of Rs 706.5 crore at SIPCOT Vallam Vadagal industrial estate in Sriperumbudur, Kancheepuram district.

The cabinet gave its nod for projects covering various sectors including electronics, food processing, motor vehicles and battery manufacturing.

A pump storage policy, a small hydel policy and a wind repowering and life extension policy for the energy department were also approved.

In particular, Rs 21,340 crore investment by lithium-ion battery supplier Semcorp in Thoothukudi to create 1,114 jobs and Rs 2,500 crore investment by exterior automotive lighting manufacturers Motherson Electronics in Kanchipuram to create 2,500 jobs have been approved, Thennarasu said.

Dairy products maker Milky Mist will invest Rs 1,777 crore on a food processing unit in Erode while global lithium-ion battery recycling company LOHUM will produce raw materials for battery manufacturing in Krishnagiri at a cost of Rs 1,597 crore, he added.

Further, global capability centres of pharmaceutical major AstraZeneca and worldwide logistics and shipping major UPS were also approved.

Industries Minister TRB Rajaa said newer sectors were being brought to Tamil Nadu for job creation. "Very soon you will hear that the electronics sector is moving into other parts of Tamil Nadu," he said.