Tamil Nadu Chief Minister Edappadi K. Palaniswami signed 14 Memoranda of Understanding (MoU) on Monday involving investments amounting to ₹ 10,055 crore with the potential to generate employment for more than 7,000 people.
These projects will be implemented in the districts of Chennai, Chengalpattu, Kancheepuram, Tirunelveli, Thoothukudi, Tenkasi, Ramanathapuram, Tiruppur and Tiruvannamalai. Of these 14 projects, 10 MOUs were exchanged physically while the remaining four were exchanged online.
JSW Renew Energy Limited signed an agreement for ₹ 6,300 crore for an 810 MW hybrid renewable project in Tuticorin, Tenkasi, Tirunelveli and Tiruppur and a 50 MW captive wind power project in Rameswaram. The firm has said it would employ more than 2,420 people.
Greenbase Industrial Parks, part of the Hiranandani Group, is establishing an Industrial Logistics Park in Oragadam, Kancheepuram district. The proposed investment in this project is ₹ 750 crore and the employment potential is approximately 500 people.
Mantra Data Center (Spain) will invest 750 million rupees (550 jobs) to set up a data center project near Chennai. Hong Kong-based Aosheng Hitech Ltd will invest Rs 200 million (250 jobs) to manufacture carbon fiber plates.
Vans Chemistry, Singapore has proposed to establish an e-waste management facility for decommissioning and recycling, and a precious metals refining project with an investment of Rs 50 million and employment potential for 750 people.
Some of the companies that already have a presence in Tamil Nadu have indicated that they would expand their plants with additional investments. Apollo Tires has proposed to establish an expansion project for the manufacture of tires in the SIPCOT Oragadam Industrial Park. The investment in this expansion project is Rs 505 million.
TPI Composites, USA has also proposed an expansion plan for the manufacture of wind blades in Oragadam with an investment of ₹ 300 crore. This company had already signed a memorandum of understanding during the Global Investors Meet 2019 for its original project.
Biscuit maker Britannia has signed an MOU worth 250 million rupees to expand its plant at SIPCOT Gangaikondan, Tirunelveli. Britannia had also signed a memorandum of understanding during the Global Investors Meet 2019 for its phase I project.
With an investment of ₹ 109 crore, Hyundai Wia, South Korea, will expand its facilities in Sriperumbudur.
Counter Measures Technologies has signed an investment agreement worth 51 million rupees. It is proposed that this project be established in the Tamil Nadu Defense Industrial Corridor. Inox Air Products, the company that, according to the state government, played an important role in supplying oxygen to COVID-19 patients in Tamil Nadu hospitals, signed a memorandum of understanding for the manufacture of liquid oxygen in Hosur.
Li-Energy has proposed to establish a project to manufacture battery packs for electric vehicles with an investment of ₹ 300 crore; LS Automotive Pvt Ltd, South Korea has proposed to establish a project worth 250 million rupees for the manufacture of automotive switches in Tiruvallur and Grin Tech Motors & Services has proposed to establish a project for the manufacture of batteries and BMS in Ambattur with a investment of ₹ 90 crore.
Before announcing the details of the MOU, Tamil Nadu Industry Secretary N. Muruganandam noted that the state ranks first among Indian states to attract investment during the first six months of this year (April to September). “During the year 2020 (until September), the state has signed 42 memoranda of understanding worth Rs 31,464 million,” he added.
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