MoUs for ₹6,100 crore investment signed during Stalin’s trip to the UAE

Through the agreements about 14,700 people will get jobs, says the Chief Minister

March 29, 2022 01:35 pm | Updated 01:39 pm IST - CHENNAI

M.K. Stalin

M.K. Stalin

Chief Minister M.K. Stalin on Tuesday said memoranda of understanding with six major companies for investments to the tune of ₹6,100 crore in Tamil Nadu were signed during his visit to the United Arab Emirates.

Besides the agreement with LuLu Group for investment of ₹3,500 crore, MoUs were signed with Noble Steel for ₹1,000 crore, with Aster DM Healthcare, Sharaf Group and White House Textiles for ₹500 crore each and with Transworld for ₹100 crore, Mr. Stalin said after his arrival in Chennai.

“Through these agreements about 14,700 people would get jobs. This trip has been successful,” Mr. Stalin said. Earlier, senior Ministers received the Chief Minister at the airport.

During his visit to Dubai and Abu Dhabi, he said he met ministers, senior officials and industry leaders and they had come forward to invest in power units, for developing minor ports and setting up food processing and industrial parks.

“Agreements with six major companies have been signed now. Many more agreements are to be signed in the coming months,” Mr. Stalin said and added that he had invited investors to visit Tamil Nadu.

Expressing confidence that their visit would form the base for the State’s development, Mr. Stalin said: “Textiles, healthcare, food processing and steel sectors would certainly see growth,” he said.

Underlining the role played by Industries Minister and senior officials of the Tamil Nadu government, Mr. Stalin commended them for bringing investment into the State. The Guidance Bureau would continue to take steps to attract investments from Dubai and Abu Dhabi. Taking a dig at the previous AIADMK government for having signed agreements, which he charged remained “paper boats”, Mr. Stalin said the agreements signed under his government would be monitored continuously through the dashboard in CM’s Office. It would also be ensured that business commenced ahead of the schedule, he added.

Thanking the Tamil diaspora in Dubai and Abu Dhabi for the grand reception he received Mr. Stalin said he felt at home and wondered whether he was in Dubai or in Tamil Nadu.

Replying to a query, he said that agreements had been signed with industries and assurances had been given to provide incentives to investors. Asked about the time-frame for investments, Mr. Stalin said: “Agreements have been signed with a time-frame. As I said earlier, we will create jobs by commencing these businesses ahead of the time frame.” On the criticism of his trip by a few opposition parties, Mr. Stalin said: “Opposition parties are meant to criticise. I am not worried about them.” Asked whether he would undertake more such trips abroad to attract investments, he replied in the affirmative.

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