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Tamil Nadu to see fresh investments worth Rs 35,208 crore from 59 companies

Signs deal with industry majors like HUL, Adani, Dalmia, TVS and L&T; Over 92,000 jobs likely to be created

Tamil Nadu | Investment

Shine Jacob  |  Chennai 

Tamil Nadu to see fresh investments worth Rs 35,208 crore from 59 companies
The chief minister also laid foundation stones for 13 projects with an investment commitment of Rs 13,413 crore and employment potential for about 11,681

lined up 82 industrial projects worth Rs 52,549 crore on Tuesday in a development that is likely to boost its image as an investor-friendly destination. The state has signed a memorandum of understandings with major industry players across sectors, such as including the Dalmia group, Hindustan Unilever, TVS Motors, Adani Enterprises and Larsen & Toubro, to set up manufacturing units and data centres with an of Rs 35,208 crore.

The remaining projects worth around Rs 17,341 crore were inaugurated or had foundation stones laid on Tuesday. All these projects are expected to cumulatively create around 92,420 direct jobs. In addition to this, chief minister M K Stalin also launched "Fintech Policy 2021", which includes the establishment of a FinTech City in Chennai and Neo-TIDEL Parks in Tier-2 and Tier-3 cities.

A top government said that the top four investments signed today were with Dalmia Group, Welspun, Hindustan Unilever and TVS Motor. TVS Motor Company that signed a deal to invest around Rs 1,200 crore in Krishnagiri for future technologies and electric vehicles (EV) in the next four years said in a statement the signing of MOU underlines the company's "belief in the potential of the State in terms of human resources, infrastructure and overall business environment." The will be mainly for the design, development and manufacturing of new products and capacity expansion in the EV space.

Other major projects for which MOUs were signed include phase-II of a data centre in Chennai by Adani enterprises, cement manufacturing units at Karur, Tuticorn and Ranipet by Ultratech Cement, Industrial Park by Welspun One Logistics Parks at Kancheepuram and Tiruvallur, unit for nutritional and beverage products in Chennai by Hindustan Unilever, data centre by L&T in Kancheepuram and retail outlet and tank farms by Shell India among others. A total of seven MOUs worth around Rs 485 crore came into the aerospace and defence sector itself. In total, MoUs were exchanged for 59 projects with a cumulative of Rs 35,208 crore, which may create employment opportunities for 76,795 people.

A total of 10 projects with investments of around Rs 3,928 crore were inaugurated on the day that is likely to create close to 4,000 direct jobs. These projects include an IT park in Chennai by RMZ One Paramount, a Nxtra By Airtel data centre at Chengalpattu, a data centre at Chennai by STT Global Data Centres, an EV two-wheeler unit by Ampere Vehicles, an IT park at Chengalpattu by Feather Lite, industrial park at Kancheepuram by Motherson Auto Solutions among others.

The chief minister also laid foundation stones for 13 projects with an investment commitment of Rs 13,413 crore and employment potential for about 11,681 persons. industries minister Thangam Thennarasu had told Business Standard last month that the state had seen investments to the tune of around Rs 20,000 crore since the new government took charge.

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First Published: Tue, November 23 2021. 17:00 IST