TN cabinet approves 14 new projects worth Rs 38,698 crore, to generate 46,931 jobs
The cabinet meeting chaired by Chief Minister M K Stalin approved the aforesaid investment which would generate jobs for 46,931 persons in the state.
T R B Rajaa and Thangam Thennarasu (Credits: X)
CHENNAI: The state cabinet on Tuesday approved 14 new projects worth Rs 38,698.80 crore.
First meeting since the elevation of Udhayanidhi Stalin as deputy Chief Minister of the state, the cabinet meeting chaired by Chief Minister M K Stalin approved the aforesaid investment which would generate jobs for 46,931 persons in the state.
State finance minister Thangam Thennarasu emerged out of the meeting and told media persons at the state secretariat that the investments would be made in production of PCB, low tension panels, mobile phone components and cases, manufacture of luxury cars and their spares, high end equipments and their software, defence equipment, medical equipment, non-leather footwear, production of renewable energy, including green hydrogen and green ammonia, e-vehicles and telecommunication related R & D.
The investments cleared by the state cabinet would include Rs 13,180 crore investment by Yuzhan Technology (India) Pvt Ltd which would generate 14,000 jobs and Rs 9,000 crore (5,000 jobs) investment by Tata Motors Ltd in Ranipet for manufacture of its Jaguar Land Rover vehicles.
An investment of Rs 10,375 crore and capacity to generate 3,000 jobs by Leap Green Energy Pvt Ltd in Thoothukudi, Virudhu Nagar, Tirunelveli and Ramanathapuram was also among the projects cleared by the ministry.
Asked about the SoP’s provided to the proposals cleared by the ministry, Thennarasu said, “We provide concessions to the industries in tune with the sector-specific policies of the state government. Apart from that, concessions are provided to industries based on the recommendation of the inter-departmental committee of the state government.”
Pointing out that the cleared investments would generate nearly 46,000 persons, the minister said that it is important to consistently generate jobs in the state and the aforementioned industries would create opportunities for qualified and skilled youths, who are available aplenty in Tamil Nadu.
