Chief Minister M.K. Stalin will ink deals with 59 firms across various sectors, entailing investments of over ₹35,200 crore and with a potential to generate over 75,000 jobs, at an investment conclave in Coimbatore on Tuesday. He will also lay the foundation stone for 13 projects involving an investment of ₹13,413 crore, and inaugurate 10 projects completed at a cost of around ₹3,928 crore.
Government sources said the Tamil Nadu FinTech policy will be released after the Memoranda of Understanding (MoUs) are signed. A single-window mobile app and an aerospace and defence directory will also be launched.
Of the 59 MoUs, two are SPA (structured package of assistance) – with Japanese firm Daicel Corporation, which will invest ₹230 crore to make auto-components at Chengalpattu, and the second one is with PCBL (TN) Limited, which will invest ₹600 crore in Tiruvallur.
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France-based Dassault Systèmes will set up a centre of excellence for virtual and design engineering for aerospace and other industries. Sources added that Dalmia Bharat Green Vision Limited will set up a cement grinding unit at Coimbatore, Chengalpattu and Virudhunagar. The firm has given an investment commitment of ₹2,600 crore.
In the food space, Hindustan Unilever Limited will invest ₹1,900 crore to manufacture nutritional and beverage products. TVS Motor will be exchanging an MoU worth ₹1,200 crore for manufacturing of electric vehicles at Krishnagiri. Another big ticket deal worth ₹2,455 crore will be from Welspun One Logistics Parks for an industrial park venture at Kancheepuram and Tiruvallur.
“Some aerospace and defence deals will also be signed for manufacturing components for these two sectors. One of the projects that will be signed will entail establishing a flight training organisation for aircraft and drone pilots,” an official source said. He further said considering the rapid increase of electric vehicles, deals would be inked with companies that were involved in e-vehicle charging stations.
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There are six MoUs pertaining to data centres, and some of them are phase-2 expansion deals. In the recent months, the State government has been betting big in the data centre space and wooing firms to invest here.
Data shows that with a current capacity of 54MW, Chennai is slowly emerging as a data centre hub, and is likely to increase supply by 1.3 times over the next two years, with a planned pipeline of 79 MW. Currently, the city has the third highest data centre capacity in India after Mumbai (199MW) and Bengaluru (57MW).