EPS reaches out to foreign firms to attract investments

Chennai: Continuing his efforts to attract foreign companies to start businesses in the State, Tamilnadu Chief Minister Edappadi K Palaniswami has written to heads of two prominent logistic majors and three petrochemical majors, inviting them to invest in the State.

Palaniswami has reached out personally to founder, chairman, president and chief executive officer of FedEx Frederic W Smith and chief executive officer of UPS David P Abney to invest in the State by writing letters to them.

He has also written to three global heads of prominent companies in the petrochemical sector, namely, chairman of Saudi Aramco Amin H Nasser, chairman of Exxon Mobil Corporation Darren Woods and chairman of CPC Corporation JiaRueyOu.

In the letters, he has outlined the investment attractiveness and inherent advantages of the State and added that it offers excellent support for businesses and industries.

Offering excellent support for business and industry to further their growth, the Chief Minister has promised a customised incentive package as per their requirement.

Only a couple of days ago, reports stated that Taiwanese manufacturer Foxconn plans to invest up to $1 billion, or around Rs 7,500 crore, to expand its existing plant in Tamilnadu. Foxconn is a contract manufacturer that assembles Apple iPhones as well as phones for other brands like Xiaomi.


NT Bureau