Tamil Nadu

CM inaugurates seven projects, lays foundation for nine more

Investment boost Chief Minister Edappadi K. Palaniswami inaugurating projects through videoconference in Chennai on Friday.  

After nearly six years, Nokia’s defunct plant at Sriperumbudur, which was acquired by Salcomp, commenced production as Chief Minister Edappadi K. Palaniswami inaugurated it on Friday.

Mr. Palaniswami inaugurated seven projects worth ₹1,298.2 crore with the potential to generate as many as 7,879 jobs.

Of the seven projects that went live, the memoranda of understanding for six were inked at the second edition of the Global Investors’ Meet that was held at the Chennai Trade Centre in January 2019.

“We have commenced production, and the plant will reach full capacity by the end of 2022,” Sasikumar Gendham, managing director of Salcomp India, told The Hindu. According to him, two lines were activated for production, while another six would go live by the year-end. “The plan is to make 50 million pieces of chargers and components that go into mobiles/chargers by the end of 2021,” he said.

Nokia’s Chennai plant downed shutters in 2014 following a tax dispute. When Microsoft acquired Nokia’s handset business, the Chennai plant was excluded from the deal. The tax issues were settled in 2018 and the plant was put up for sale. It was acquired by Salcomp in 2019.

The other projects that went live are of Wheels India at Thervoy Kandigai, Tiruvallur, with an investment of ₹600 crore for making automotive wheels and mining equipment; Power Gear at Walajapet, Ranipet, (₹37 crore); Nash Industries at Kancheepuram (₹56.5 crore); BBL Daido (₹22 crore); and Mudhra Fine Blanc at Irungattukottai (₹12.7 crore). The project proposed by Kalpathi AGS Group-Dindigul Renewable Energy Private Limited (Phase 1), worth ₹70 crore, for solar power generation at Batlagundu, Dindigul, also got off the ground.

Mr. Palaniswami also laid the foundation for nine projects, worth ₹10,062 crore, with an employment commitment to 8,666 persons. One of the projects is a training centre by Hyundai Motors at Irungattukottai, entailing an investment to the tune of ₹150 crore. This centre will come up on a 6.45 acre land parcel and develop talent and make them ready for global opportunities in world-class companies setting up shop in India.

“With the new training centre, we are confident of creating a rich talent pool of trained personnel across industries. The Hyundai Academy for Technical Skill marks a new chapter in employment generation and will pave the way for sustained professional growth, sparking an all-round personal and economic development for beneficiaries. We have also envisioned an innovation centre which will provide facilities to budding innovators to translate their projects into reality,” said S.S. Kim, MD and CEO, Hyundai Motor India Ltd.

Vikram Solar, which signed an MoU in July during the lockdown, also had its ground breaking ceremony. Information provided by government officials showed that the company planned to invest ₹5,512 crore and hire 4,738 people. When the MoU was signed, the company said it would invest ₹5,423 crore at Kancheepuram and provide employment to 7,542 persons. The foundation was laid for a logistics park by Integrated Chennai Business Park (DP World), involving ₹1,000 crore, Kalpathi AGS Group-Dindigul Renewable Energy Private Limited (Phase 2) with investment of ₹300 crore, Shreevari Energy Systems (₹250 crore), Chennai SSSS Equipment (₹50 crore), Adani Gas (₹2,000 crore), Philips Carbon Black (₹600 crore) and Aquasub Engineering (₹200 crore).

Collectorate building

Mr. Palaniswami also laid the foundation stone for a new Collectorate building for Kallakurichi through videoconference on Friday.

Following the bifurcation of Villupuram district, Kallakurichi was created in November 2019. The Collector’s office, to be built at a cost of ₹104 crore, will have seven floors and house over 40 departments.

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Printable version | Dec 3, 2020 7:31:43 PM | https://www.thehindu.com/news/national/tamil-nadu/cm-inaugurates-seven-projects-lays-foundation-for-nine-more/article32933542.ece

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