Tamil Nadu

Tamil Nadu signs 16 more MoUs to attract ₹5,137 crore investment, create over 6,000 jobs

The deals were signed by Chief Minister Edappadi K Palaniswami   | Photo Credit: E. Lakshmi Narayanan

The Tamil Nadu government on Thursday signed 16 more memorandum of understanding (MoUs) worth ₹5,137 crore that will create employment opportunities for over 6,555 people.

The deals were signed by Chief Minister Edappadi K. Palaniswami in the presence of Industries Minister M.C. Sampath as well as N. Muruganandam, Principal Secretary, Department of Industries and Neeraj Mittal , MD and CEO, Guidance, Industries Department.

While a few MoUs were signed in the presence of the company officials, the others were done through video-conferencing. Earlier this week, the State government had signed eight MoUs worth ₹10,399 crore that will create employment opportunities for over 13,507 people.

Adani Enterprises Limited, the flagship company of the Adani Group has signed an MoU worth ₹2,300 crore and Princeton Digital Group has inked a deal for ₹750 crore. Both these investments will come up in the Siruseri, Chengalpattu area. Super Auto Forge, manufacturer of cold and warm forged steel and aluminium parts and BPL-FTA Enterprises, have given an investment commitment of ₹500 crore each.

Airflow Equipments, a major supplier of equipments and products to the transportation industries will be investing ₹320 crore at Kancheepuram. ATG, a fully owned subsidiary of The Yokohama Rubber Co. Ltd., Japan will be investing ₹250 crore at Gangaikondan, Tirunelveli.

The other MoUs include Visteon (₹100 crore); Srivaru Motors Pvt. Ltd. (₹150 crore); Top Anil Marketing (₹100 crore); Corestack (₹35 crore); Swirepay (₹23 crore); Radus Digital (₹21 crore); bitWise Academy (₹21 crore); Plethy (₹22 crore); Tier1 Network Solutions Inc (₹25 crore) and Continube (₹20 crore).

“There are seven MoUs that have been signed in the technology space. Of these, six will come up in Chennai and one in Coimbatore,’ Mr. Muruganandam said.

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Printable version | Dec 2, 2020 12:17:11 AM | https://www.thehindu.com/news/national/tamil-nadu/tamil-nadu-signs-16-more-mous-to-attract-5137-crore-investment-create-over-6000-jobs/article32169896.ece

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