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TN inks MoU with 59 companies, Rs 35,208 cr investments in the offing

The Tamil Nadu government has signed Memorandum of Understanding with 59 companies, which will lead to investments worth Rs 35,208 crore coming into the state.

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Tamil Nadu

IANS  |  Chennai 

DMK releases manifesto for Tamil Nadu elections | Photo: ANI

The government has signed Memorandum of Understanding (MoU) with 59 companies, which will lead to investments worth Rs 35,208 crore coming into the state.

The deals were signed during an investors' meet at Coimbatore, which was presided over by Chief Minister M.K. Stalin.

Agreements have been inked with seven companies in the fields of aerospace and defence system manufacturing, and an investment of Rs 485 crore is expected to be generated through this.

Stalin said that the deals are an indication that is on the right path to become a trillion-dollar economy.

He said that despite the challenges of Covid-19 and natural clamaities like rain and its related issues, it is a great moment for to attract the investments.

The Chief Minister said that it was the third industrial conference in five months, which is a sign of the state government's efforts to promote industrial investment and growth.

Stalin also laid the foundation for 13 projects worth Rs 13,413 crore, besides launching commercial production in 10 projects worth Rs 3928 crore. Government officials said that 92,420 people would get employment through these projects.

Stalin said that the government is aiming to make the state the fintech capital of the country, as he released a fintech policy.

Stalin also released a handbook on aerospace and defence systems.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, November 23 2021. 16:04 IST
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