Chennai: Chief Minister Edappadi K Palaniswami said that Foreign Direct Investments (FDI) in the State have increased to Rs 1.80 lakh crore in the past three years.
Speaking at a function during which he laid the foundation stone for the construction of DLF Down Town Chennai, a joint venture IT park project of TIDCO and DLF at Taramani here, Palaniswami said,”In the previous years the FDI was around 1.33 lakh crore. However in the past three years an additional revenue of Rs 47,000 crore has been generated by this government.”
He further said due to the constant efforts of the government, many new investment projects are being commenced successfully in Tamilnadu. ”Within a span of one year, we are able to support the beginning of commercial production of 59 Global Investors Meet (GIM) Projects. Another 213 projects are under various stages of implementation,” he said.
He further said IT sector has been on a steady growth momentum in Tamilnadu. ”Tamilnadu is India’s leader in the area of ‘Software as a Service”.
”The broad industrial base, highly qualified and skilled man power, well developed infrastructure, surplus power position are some of the key strengths of the State,” he added.
Palaniswami said that constant efforts are taken to improve the infrastructure in the IT corridor, in line with the growing needs.
”Many new projects like Phase II of Chennai Metro, widening of OMR Road with by-passes at Kelambakkam and Thiruporur and fly-overs at various key junctions at a total cost of Rs 1,150 crore are being taken up,” he said.
He also extended his full support to the investors and said, ”I assure the captains of industries present here that we will continue to fully support all your investments in Tamilnadu.”
It may be noted that the Tamilnadu cabinet on Monday cleared investment proposals worth Rs 50,000 crore.
Water release
Chief Minister Edappadi K Palaniswami today ordered the release of water from Vadakku Pachayar dam from 27 January to 31 March.
A release said 9592.91 acres of agricultural lands in 14 villages in Tirunelveli district will be benefitted by this. Palaniswami asked farmers to utilise the water without wastage, yield good returns and help in water management.