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TN CM lays foundation stone for projects signed in GIM 2019


Press Trust of India Chennai
: Tamil Nadu Chief Minister K Palaniswami Wednesday formally kickstarted Rs 14,071 crore worth projects, part of those signed in the Global Investors Meet in January by laying the foundation stone for them

The second edition of GIM was held on January 23 and 24.
The government has said that these projects would lead to creation of jobs for 12,294 people in the state.
Some of the top companies that signed MoUs include Korean auto-major Hyundai Motor for Rs 7,000 crore, tyre major MRF Ltd for Rs 3,100 crore and auto-components maker Sundaram Clayton Group to invest Rs 1,200 crore.
The GIM saw 309 MOUs being signed, attracting investments worth Rs three lakh crore that would create direct and indirect employment for 10.5 lakh people.
The foundation stone laying ceremony also marked the beginning of commercial production of Sheng Long Biotech India Pvt Ltd, which had signed an MoU during the first edition of GIM that was formally inaugurated by the then and late Chief Minister J Jayalalithaa in 2015.
Sheng Long Bio-tech India Pvt Ltds is engaged in fishing, operation of fish hatcheries and fish farms, service activities incidental to fishing. It has a unit in Thervoy Kandigai in Kancheepuram district.
Some of other companies which signed MoUs in the second GIM include steel-wheels manufacturer Wheels India Rs 600 crore, Mando Automotive India Rs 844 crore, Salcomp Manufacturing India to set up mobile parts equipment at Nokia Special Economic Zone at an investment of Rs 500 crore.
Coimbatore-based Lakshmi Machine Works Ltd which would invest Rs 600 crore to take up expansion of its facility, Roots Industries India Rs 23 crore, Roots Multiclean Ltd Rs 45 crore, Pure Chemicals Ltd Rs 20 crore, JS Auto Cast Foundries Rs 39 crore to set up an automobile parts manufacturing unit.
Thanjavur-based SASTRA University has also planned to invest Rs 100 crore to take up expansion plans.
Fisheries minister D Jayakumar, industries minister M C Sampath, chief secretary Girija Vaidyanathan, among others, were also present on the occasion.

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First Published: Feb 27 2019 | 4:55 PM IST

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