Chennai: Amid the ongoing hectic task of preventing the spread of coronavirus pandemic, the Tamilnadu government, in a big push to industrial development, today inked MoUs with eight companies involving an investment of more than Rs 10,000 crore and creating more than 13,000 jobs.
The MoUs were signed at the State Secretariat in the presence of Chief Minister Edappadi K Palaniswami.
The new projects to come up in Kanchipuram, Coimbatore, Ranipet, Villupuram, Chengalpet and Erode districts involved a total investment of Rs 10,399 crores and would create 13,507 new jobs.
While five MoUs were signed directly, the other three were done through video-conferencing.
Today’s signing of pacts comes in the backdrop of the State government signing 17 MoUs with companies from Germany, Finland, Taiwan, France, South Korea, Japan, China, USA, Australia, the United Kingdom and The Netherlands on May 27 attracting Rs 15,128 crore investments and 47,150 new jobs.
The MoUs were signed three days after Projects Today, an independent firm that tracks investment projects in the country, stating Tamilnadu has emerged as the countryâs top investment destination in the first quarter of this financial year, at a time when fresh investment announcements in India slumped to the lowest in five years amidst a period marred by the extended pandemic-induced lockdown.
Tamilnadu accounted for 18.63 per cent of the Rs 97,859 crore of investments envisaged to execute 1,241 projects in the country in the first quarter, according to Projects Today.
An official release here said at a time when the world economy has taken a hit due to the Covid-19 pandemic and was slowly recovering from this critical situation, the State government, in a bid to upgrade the industrial development and to make Tamilnadu the leading State in industry, has been taking various steps.
Recalling the recent steps taken by the government, including formation of âSpecial Committee to attract Investmentsâ headed by Chief Secretary K Shanmugam and the one headed by former RBI Governor Dr C Rangarajan to revive the state’s economy post Covid-19, the release said in continuance of the efforts to take the State on developmental path and thanks to conducive industrial climate, several new investment plans were being implemented in the State.
In continuation of this, eight MoUs were signed today. This included Solar Cells and Modules manufacturing facility by Vikram Solar (Rs 5,423 investment, 7.542 jobs), which was hitherto importing from foreign countries, at Orgadam in Kanchipuram district, Industrial park by CGD Sathrai Private Limited (Rs 250 crore investment, 1550 jobs) at Wallajahbad in Kanchipuram district, setting up of Ductile Iron Foundry by Aquasab (Rs 200 crore investment, 400 jobs) at Coimbatore Industrial Park in a 125 acre area by NDR Infrastructure at Ranipet (Rs 200 crore investment, 400 jobs), a Cashewnut Processing Centre by GI Agro Tech at Marakkanam area in Villupuram district (Rs 36 crore investment, 465 jobs), Data Information Centre at Singaperumalkovil in Chengalpet district by Yotta of Hiranandani Group (RS 4,000 crore investment, 2,500 jobs), Air Compressor manufacturing facility at Coimbatore by Elgi Equipments (Rs 250 crore investment, 600 jobs) and Foundry expansion project by JS Auto Cast at Sipcot Perunthurai Industrial Park in Erode district (Rs 40 crore investment).