Tamil Nadu seals ₹32,554 crore investment deals, creating 50,000 jobs

Tamil Nadu government signs Rs 32,554 crore investment deals, creating 50,000 jobs in South Tamil Nadu. Key projects include a space park and shipbuilding PSU, with JSW and RGE as major investors

The government of Tamil Nadu on Monday signed deals with multiple companies for investments totalling around Rs 32,554 crore, creating close to 50,000 jobs in the southern districts of the state, during the TN Rising Investors Conclave. The state also announced plans to set up a 250-acre space park in Thoothukudi and a public sector undertaking for shipbuilding.

 

In addition, Chief Minister M. K. Stalin inaugurated projects worth Rs 2,530 crore, including the VinFast unit in Thoothukudi. Among the memorandums of understanding signed are a Rs 4,953 crore man-made fibre manufacturing unit by Singapore-based RGE (Royal Golden Eagle), which will create 1,065 jobs; a Rs 5,225 crore renewable energy unit by JSW, generating 3,630 jobs; a Rs 5,000 crore ammunition and propellants manufacturing unit by Shakthi Group, creating 2,000 jobs; and a Rs 1,500 crore shipbuilding component manufacturing project by Chennai Radha Engineering Works (CREW), which will generate more than 1,400 jobs.

 

 

According to sources, a foreign major is expected to partner with CREW, a leading supplier of coaches and rail systems to Indian Railways, along with a major port in India. Reports also indicate that the world’s largest shipbuilding company, HD Hyundai, and Cochin Shipyard are in talks to set up a shipbuilding unit in South India.

 

“We are paying more attention to progress in all sectors such as semiconductor manufacturing, electric vehicle manufacturing, solar cells, green hydrogen production, and information data centres,” Stalin said, addressing the conclave. Industries Minister T. R. B. Rajaa added that the government is ensuring that all regions, including the Western Region, Delta Region, and South Tamil Nadu, see massive investments. "There is widespread industrial development in Tamil Nadu. Wherever you go, there is infrastructure and world-class facilities. Therefore, educated youth, especially women, are getting employment opportunities," Rajaa said.