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Published on 20/07/2021 10:40:25 AM | Source: Reuters

Tamil Nadu government to sign MoU for Rs 17,000 Cr investment on Tuesday

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The Tamil Nadu government will enter into a Memorandum of Understanding (MoU) with several companies at an investment conclave in Chennai on Tuesday attracting an investment of around Rs 17,000 crore.

Chief Minister M.K. Stalin will lay the foundation stone ceremony of nine projects during the conclave. He will also inaugurate five other projects during the function.

JSW Energy, Vikram Solar, TCS, Real estate firm CapitaLand, Avary, French company Cryolar, Cheyyar SEZ are some of the firms that will sign the Memorandum of Understanding.

According to senior officials in the industries department that is spearheading the conclave, 49 projects would commence in various parts of the state. While foundation stone will be laid for some projects, in others MoU will be signed.

The Tamil Nadu Industries Minister Thangam Thenarasu told IANS, "We are on a massive investment drive for the state of Tamil Nadu. Many industrial majors have evinced interest in the state and we are expecting huge investments in the state with around 82,400 jobs being provided."

JSW Energy will be signing a Rs 3,000 crore investment agreement with the state government for setting up windmills at Thoothukudi, Tirunelveli and Tiruppur districts of the state.

TCS would set up an IT/ ITES company with an investment of Rs 900 crore while CapitaLand will be investing Rs 1,500 crore for setting up a data centre at Ambattur.

The foundation laying of a Rs 150 crore liquid oxygen plant of INOX air products will also be conducted at Hosur on Tuesday. The plant, according to the industries department, will have a production capacity of 200 MT per day.