MoUs to bring in Rs. 20,925 crore investments to TN

 The government will sign memorandums of understanding (MoU) for 12 projects involving total investments worth Rs 20,925 crore, Chief Minister Jayalalithaa told the Assembly on Thursday.

MoUs bring investments (PDF)
The MoUs, to be signed on November 5, are expected to generate direct employment for 36,855 persons and indirect employment opportunities for one lakh people, the Chief Minister said while making a suo motu statement in the House.

“I take pride in saying that these agreements will go down in the industrial history of Tamil Nadu for bringing in the highest quantum of investment on a single day,” she said.

The nod for signing MoUs with seven companies was given in the Cabinet meeting on May 14.

Again on October 27, it was decided to sign MOUs with another five companies.

‘Vision-2023’
Ms. Jayalalithaa said these MoUs would translate into reality the ‘Vision-2023’ unveiled by her government on March 22.

"The objective is to achieve 20 per cent more growth than what is expected at the national level or 11 per cent annual growth,” she said.

The first set of seven MoUs are a joint-venture for fibre glass and float glass manufacturing units with an investment of Rs. 4,100 crore at Thervoy Kandigai by the US-based PPG and Harsh Group, Rs. 700 crore projects in Chennai, Hosur and Oragadam by the TVS group for manufacturing spare parts, rubber and plastic components, a Rs. 500 crore project by the Murugappa Group at Tiruvallur and Kancheepuram districts for manufacturing scooter and bicycle components and iron pipes, a Rs. 500 crore project by Denmark-based Danfoss at Oragadam, a Rs. 250 crore project by Sanmia-SCI at Oragadam, Rs. 250 project by Nokia at Sriperumbudur and a Rs. 300 crore project by the US-based Alticor Inc at Nilakottai in Dindigul district for manufacturing home appliances.

Another five MoUs are for expansion of the Hyundai car factory in Irungattukottai at a cost of Rs. 4,000 crore, a new synthetic factory by Indo Rama at a cost of Rs. 4,500 crore, a joint venture by BGR Energy Group and Hitachi at a cost of Rs. 2,325 crore to manufacture turbines, generators and boilers, a Rs. 3,100 crore project by ADD Industrial Park at Annur in Coimbatore and expansion of Saint Gobain at Sriperumbudur and Perundurai at a cost of Rs. 400 crore.

The Chief Minister said the Synthetic Fibre factory by Indo Rama at Ennore and Coimbatore would be the first petro-chemical factory in the State.
The textile park by ADD Industrial Park to be set up in Coimbatore on 2,200 acres will provide employment for 2000 persons in the beginning and the figure will reach 25,000 in seven years.
Source:THE HINDU

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