82% MoUs with investors turned into actual projects past 10 years: TN govt

Refutes reports that only 9.4% of investment proposals in the state were converted to projects during that time

The Tamil Nadu Government has said that the conversion rate of MoUs with investors into actual projects during the last 10 years has been about 82.4 per cent.

The conversion rate of 98 MoUs signed during Global Investors Meet (GIM) 2015 was 72 per cent, while that of 304 MoUs signed during GIM 2019 was 89 per cent.  

The conversion rate refers to projects that have commenced commercial production or are at various stages of implementation (such as purchase of land, application for clearances or trial production) as a percentage of the total number of MoU projects, said the State Industries Department.