TAMIL NADU

State will cross Rs.75,000 cr. worth of investment

Within next six months, says industry official

Having garnered more than Rs.60,000 crore by way of investment, the State government will cross the Rs.75,000 crore within the next six months, said a top industry official on Wednesday.

Till the commencement of the calendar year 2010, the State government had signed 37 projects worth Rs.46,091 crore that promised employment to over 2.21 lakh people. During the current year, the State government signed three projects valued at Rs.13,000 crore that offered 8,600 direct jobs.

“Currently, we have projects worth Rs.8,000 crore on hand and the agreements will be signed anytime now. Besides, we expect an additional investment of Rs.7,000 crore to flow into the State within the next six months, taking the tally to Rs.75,000 crore. In all, it would be 15 to 20 companies that are capable of providing around 2 lakh jobs,” the official told The Hindu on Wednesday.

Over the last few days, business delegations from Bangladesh and Thailand interacted with the government officials and expressed their interest to invest in automobile, electronics and renewable energy sectors.

A garment manufacturer is setting up a unit in Nanguneri that would provide jobs to nearly 10,000 people, while an engineering unit is establishing a plant in Coimbatore with an employment potential of 1,000 workers.

“They are not major investors, but are classified as major employment provider and hence we have assured them structured package. Bangladesh wants to invest in renewable energy. It is hard to get fresh investment into the State, when every other State in the country is competing with us on equal ground. In this background, touching Rs.75,000 crore in a short span of four years is not a small achievement,” he said.

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