Madurai

MoUs worth ₹ 504.21 crore signed

Minister for Social Welfare V.M. Rajalakshmi addressing a meeting in Tirunelveli.

Minister for Social Welfare V.M. Rajalakshmi addressing a meeting in Tirunelveli.   | Photo Credit: A. Shaikmohideen

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For investments under MSME sector in Thoothukudi district

A total of 127 Memorandums of Understanding (MoU) for investments worth ₹ 504.21 crore under the MSME sector have been signed in Thoothukudi district.

The target of ₹ 500 crore set for the sector had been exceeded, said Information and Publicity Minister Kadambur C. Raju at the Global Investors Meet (GIM) roadshow on Monday ahead of the GIM to be held during January 23-24 in Chennai.

P. Jagadeesh, Additional Director (Rural Projects), said 12,150 MSMEs were registered in the district. He said there was a lot of potential in various sectors, including the major clusters of safety match, rice mill, readymade garments, salt and marine product industries, in addition to the major industries including coal-based thermal power plants.

Collector Sandeep Nanduri, District Industries Centre Deputy Director A. Swarnalatha, Aavin Chairman (Thoothukudi-Tirunelveli) N. Chinnadurai,

Thuditssia president K. Nehru Prakash, secretary of Indian Chamber of Commerce and Industry D.R. Kodeeswaran and others participated.

Tirunelveli

Memorandums of Understanding for investments worth ₹ 421 crore from 88 firms from various firms, including those in the SIPCOT industrial estate at Gangaikondan, Nanguneri Special Economic Zone, SIDCO industrial estates, Alangulam rice mill industries.

Minister for Adi Dravidar and Tribal Welfare V.M. Rajalakshmi said that there had been tremendous industrial growth in the city during the last two years, and that steps were being taken to achieve the target of ₹ 500 crore.

She said that under the NEEDS scheme, while a target of giving subsidy of ₹ 3.4 crore to 34 people was fixed, ₹ 3.78 crore was given to 32 persons exceeding the target.

Collector Shilpa Prabhakar Sathish said that Tamil Nadu ranked second among States in attracting foreign investments. Abundant human resources available has made this possible, she said.

MLAs I.S. Inbadurai, Murugaiah Pandian, Manoharan, District Industries Centre General Manager Murugesh were present.

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Printable version | Jan 25, 2020 3:56:22 AM | https://www.thehindu.com/news/cities/Madurai/mous-worth-50421-crore-signed/article25873146.ece

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