Agreements to start industrial units worth ₹540.96 crore signed with 117 entrepreneurs in Cuddalore

The agreements were inked at an MSME investors’ meet held recently; the industrial units are expected to create jobs for 3,518 persons

Updated - November 27, 2023 05:18 pm IST

Published - November 27, 2023 05:00 pm IST - CUDDALORE

Minister for Agriculture and Farmers’ Welfare M.R.K. Panneerselvam handing over an MoU to an entrepreneur in Cuddalore. Minister for Labour and Skill Development C.V. Ganesan and Collector A. Arun Thamburaj are also seen, at the event held on November 25, 2023

Minister for Agriculture and Farmers’ Welfare M.R.K. Panneerselvam handing over an MoU to an entrepreneur in Cuddalore. Minister for Labour and Skill Development C.V. Ganesan and Collector A. Arun Thamburaj are also seen, at the event held on November 25, 2023 | Photo Credit: Special Arrangement

Memoranda of Understanding (MoUs) worth ₹540.96 crore were signed with 117 entrepreneurs to start industrial units in Cuddalore district, at an investors’ meet of Micro, Small and Medium Enterprises (MSMEs).

The MoUs were signed on Saturday, November 25, 2023, in the presence of Minister for Agriculture and Farmers’ Welfare M.R.K. Panneerselvam and Minister for Labour and Skill Development C.V. Ganesan. They are expected to help in creating employment for 3,518 persons.

According to official sources, in the run up to the Global Investors’ Meet 2024 scheduled to be held in Chennai on January 7 and 8, 2024, investments to the tune of ₹546 crore has been targeted in Cuddalore district. According to the administration, so far, investments to the tune of ₹540.96 crore have been identified and memoranda of understanding have been inked. 

Speaking on the occasion, Mr. Panneerselvam said the Tamil Nadu government was giving special attention to the development of the MSME sector that contributes greatly to the economic development of Tamil Nadu. The MoUs have been signed for investment in various sectors including cashew processing and food processing. He said the Global Investors Meet was being organised to realise the dream of Chief Minister M. K. Stalin to upgrade the economy of Tamil Nadu to USD one trillion by 2030.

Collector A. Arun Thamburaj said that all government departments concerned were working in tandem to redress various industry-related issues. A single-window system has been activated to deal with industrial houses seeking permission to commence new industrial units, to expand existing units and to avail of subsidies, he said.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.