Chennai: The State Cabinet approved 15 new industrial policies that would bring in fresh investments to the tune of Rs 44,125 crore to various districts, generating 24,700 jobs in diverse sectors like automobiles, electronics, food processing and renewable energy equipment manufacturing.
Among the new policies approved at the Cabinet meeting, presided over by Chief Minister M K Stalin at the Secretariat on Tuesday, were those laying a stress on renewable energy resources, which would help achieve the dream of generating 50 per cent of the electricity through green energy resources by 2030.
Emerging from the meeting, Finance Minister Thangam Thennarasu briefed the media about the decisions taken by the Cabinet on the new industrial policies. He said to three policies aimed at boosting the energy sector were approved and they were the pump storage policy, a small hydel policy and wind repowering and life extension policy.
The wind repowering and life extension would enable the wind mills in that State, some of whom are over 40 years old, to get a new lease of life in generating power and the small hydel policy will enable captive power use by industries, he said.
The Chief Minister will inaugurate on August 17 an industrial housing scheme for 18,720 employees of Foxconn, costing Rs 706.5 crore, he said.
Industries Minister T R B Rajaa, who, too, addressed the media said the Chief Minister was keen on industrial growth all over the State and that new sectors like electronics would soon come into the State.
Thennarasu said that Cabinet approved incentive packages for industries and among them were Rs 21,340 crore for Sembcops for a facility in Thoothukudi that would generate 1114 jobs and Rs 2600 crore from Motherson Corporation in the electronics sectors.
Besides, Milky Mist has been approved of a package of Rs 1777 crore and Rs 1,597 crore forLOHUM for producing raw material or batteries and pharmaceutical giant Astrazeneca has been permitted to set up a global capacity centre.
