TN signs 16 MoUs to attract investments

The Tamil Nadu government entered into 16 Memorandums of Understanding with investors, including Adani Enterprises, to attract fresh industrial investments of ₹5,137 crore into the state. The investments to come up in varied sectors, including IT, auto components and food products, will result in generating direct employment to more than 6,500 people.

Over the last three months, Tamil Nadu has managed to strengthen its new project pipeline by executing MoUs to attract over ₹30,000 crore fresh investments from both Indian and overseas players. These projects, when completed, are likely generate direct employment to over 67,000 persons in the state.

On May 27, the state signed 17 MoUs for attracting new investments worth ₹15,128 crore. Early this week, it signed eight MoUs that promised combined investment of ₹10,399 crore.

On Thursday, the MoUs were signed in the presence of chief minister Edappadi K Palaniswami at the state secretariat. The new ventures will come up across districts, including Chennai, Chengalpet, Kanchipuram, Coimbatore, Dindigul and Tirunelveli.

Adani Enterprises will invest ₹2,300 crore in establishing a data park at Siruseri Sipcot IT campus. The project will employ 1,000 people. Singapore’s Princeton will be investing ₹750 crore to set up a data park also in Siruseri, but will employ around 100 people.

Super Auto Forge has agreed to invest ₹500 crore in establishing forged steel and aluminium parts unit in Sipcot industrial estate at Vallam - Vadagal in Kancheepuram district.

Airflow Equipments plans to invest ₹320 crore, also in Vallam – Vadagal, and employ 500 people in its industrial unit to make components for the logistics sector.

ATC Tires has promised to invest ₹250 crore in a technology enhancement project at Sipcot’s Gangaikondan industrial estate in Tirunelveli. The unit will employ 400 people.

Visteon Automation Systems will invest ₹100 crore at Maraimalainagar in an auto component unit.

In addition, a leading vermicelli brand Top Anil will invest ₹100 crore in a food products unit in Dindigul district and will employ 1,000 people. BPL-FTA and Srivaru Motors will invest ₹300 crore and ₹150 crore in lithium Ion battery and e-bike manufacturing units respectively.

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