Chennai: Positive signals in initiatives for industry, employment
41 MoUs that were signed in the presence of the Chief Minister during his tri-nation tour of UK, US and Dubai.
CHENNAI: Sending a clear message to his political detractors that the MoUs signed at the second Global Investors Meet (GIM) benefit Tamil Nadu, Chief Minister Edappadi K. Palaniswami inaugurated three projects worth Rs 121.12 crore signed during the TN GIM in February this year.
He launched initiatives in the industries sector totalling Rs 7,175 crore committed by the investors.
Also, the CM signed MoUs for 15 new projects worth Rs 5,574 crore besides laying the foundation stone for five new projects and inaugurated production in three other units. All the 23 projects valued at Rs 7,715 crore would generate about 45,846 jobs.
Thursday’s initiative comes close on the heels of the 41 MoUs that were signed in the presence of the Chief Minister during his tri-nation tour of UK, US and Dubai.
According to an official release, the 15 new memoranda of understanding (MoU) were signed in the presence of Mr Palaniswami, with the Information Technology, electric components, wind energy, textile, LPG bottling firms and warehousing. The companies will establish their units in Chennai, Vellore, Coimbatore, Tiruvallur, Tiruvannamalai and Kancheepuram among the other districts. These agreements would ensure employment to 28,566 persons.
The five projects are worth Rs 1,480.7 crore and they include three signed during the second edition of the GIM, Chennai. These include Niswin Foods, J. S. Autocast and ITW India. The projects would help generate employment to 16,000 persons.
Foreign diplomats said Tamil Nadu is the second largest Indian State to attract investments. They met the Chief Minister and said that they were considering enhancing foreign investment in Tamil Nadu.
The State government has entered into an agreement with Bharat Electronics Limited (BEL), a public sector undertaking under the union defence ministry, to revive the Tamil Nadu Industrial Explosives Limited unit at Katpadi. BHEL is expected to take up the unit on lease and run an exclusive manufacturing unit with a plan to make hefty investment.