TN signs MoUs worth Rs 1.25 lakh cr; 74K to get job opportunities

CHENNAI: The Tamil Nadu government on Monday signed Memorandum of Understandings (MoUs) in the presence of Chief Minister MK Stalin with 60 companies with the cumulative investment worth Rs 1,25,244 crore.

The investments will fetch employment opportunities to 74,898 persons.

The Chief Minister chaired the 'Investors Conclave' in which various investment-related initiatives, including signing MoUs, were organised.

Of the 60 MoUs signed in the conclave, 53 are facilitation MOUs and seven were projects that have been sanctioned with structured package of incentives.

The total worth of the 53 MoUs is Rs 65,373 crore and they can generate employment opportunities to 58,478 persons.

The seven MoUs have a total investment of Rs 59,871 crore with employment opportunities for 74,898 persons.

Some of the major companies that are about to invest in the State are Tata Power, Lucas TVS, Aravind ceramics, ACME Green Hydrogen and Chemical pvt ltd, IAMPL, Amplus (Petronas), Chennai based Garuda Aerospace and so on.

The Chief Minister also laid the foundation stone for 21 projects with a total investment commitment of Rs 22,252 crore and employment potential of 17,654 persons.

The Chief Minister also inaugurated 12 projects with cumulative investment of Rs 1,497 crore providing employment for 7,050 persons.

Stalin released Tamil Nadu Life Sciences Promotion Policy 2022 "to develop Tamil Nadu into a global sciences manufacturing hub and to augment investment in the life sciences sector" and Tamil Nadu Research and Development Policy 2022 "to strengthen Tamil Nadu's position as a leading state for research and development sector and to augment investment in the R&D sector".

Industries Minister Thangam Thennrasu, Industries Secretary S Krishnan and Pooja Kulkarni, MD and CEO Guidance were also present in the Investors Conclave.