TN cabinet approves projects worth Rs 15,610 crore

CHENNAI: The State cabinet has approved investments various industrial projects worth Rs 15,610 crore in sectors ranging from electric vehicles (EV), automobile technologies, textiles and wireless technologies.

Briefing media persons at the state Secretariat after the cabinet meeting, State Industries Minister Thangam Thennarasu said that the m cabinet has given its approval to eight projects worth Rs 15,610.403 crore which would generate 8,726 jobs in the state.

The investments would be spread across EV, automobile, textile and wireless technology sector and some major decisions that would give fillip to the industrial sector in the state have been also made at the meeting, Thennarasu added.

Asked about the destination of the investment, the minister clarified that the investments would be made at Krishnagiri, Theni, Pudukottai and areas around Chennai.

Reacting to a specific query on the EV policy in vogue in the state, Thennarasu said that some changes have been made to the policy, including collector road tax for electric vehicles.

Asked if the prices of EVs would not jack up when road tax is imposed amid soaring lithium prices in the state, the minister said that they have offered export exemptions.

On whether investments have been attracted to southern Tamil Nadu, the industries minister clarified that a lot of investment has been realised in south Tamil Nadu. "If you study the chart of investment, a lot of it has happened in south TN. More investments like Green hydrogen, allied industries related to Kulasekarapattinam space project and even Tata power in Gangaikondan are in the south," he pointed out. He also added that the investment committed during their recent foreign tour, especially in non-leather shoes manufacture, were destined for the southern part of the state.

On projects related to the Parandur airport project, he said that there were several industrial parks around the airport, mainly Sriperumbudur and Oragadam and a few new projects approved this morning would also be in the region. Thennarasu also clarified that a few more policies have been approved and it would be announced at the appropriate time as the information is commercially sensitive. The information would be made public at the time of signing MoUs in the presence of the chief minister. Reacting to a specific query on priority for local people in the jobs during the realization of the investments, the minister said that they have done a study on the investments since 2010 and nearly 87% of the jobs, from lower to the higher level, were held by local people.