The State government, which formally cleared five proposals of industrial projects of over ₹52,000 crore at the Cabinet meeting on Monday, is planning to have the Memoranda of Understanding (MOU) signed in a month.
Among the projects are an oil refinery-cum-petrochemical complex in Thoothukudi at a cost of ₹49,000 crore; a ₹1,900-crore facility in Sriperumpudur to produce electronic hardware and another unit in Oragadam, near Chennai, to manufacture mobile phone and components, at a cost of around ₹600 crore.
Apart from permitting the increase in the size of investment by ₹100 crore for a bio-diesel producer, the Cabinet has approved a ₹504-crore project by Mitsuba Sical, a Japanese manufacturer of auto components in Gummidipoondi, on the northern outskirts of the city.
The refinery-cum-petrochemical complex project, promoted by Al Kharafi Group of Kuwait, is expected to come up in nine years.
The government hopes that if this project comes up, this will transform the southern region as a whole, because of its enormous potential for employment generation and industrialisation.
Talking of a similar project in Dahej, Gujarat, an official of the government says that it is estimated to have facilitated 1.6 lakh jobs.
As far as the assurance given by the Thoothukudi project promoter, around 5,000 jobs will be generated directly. While the cost of the proposed refinery will be ₹35,000 crore, the petrochemical complex will cost ₹14,000 crore.
The Sriperumpudur facility is going to be implemented by Wintech, regarded as one of the largest manufacturers of mobile phone instruments. This will become the main unit of the company, which has a unit in Tirupati.
As for the Oragadam unit, it will be a project of BYD, which is also a key player in the production of electric vehicles in China.
CM’s China visit
Asked about the proposed visit of Chief Minister Edappadi K. Palaniswami to China as part of the State government’s efforts to woo industrial projects, a top official says that this may take place in the middle of the year, even though dates have not yet been finalised. Another country that is being considered for the Chief Minister’s overseas trip is Canada.
