TN Govt signs 59 MoUs for projects worth Rs 35,208 crore at investment conclave

The Tamil Nadu government on Tuesday signed 59 MoUs for projects worth Rs 35,208 crore in various sectors, including areospace and defence, which is set to create job opportunities for 76,795 people.

In all, 82 initiatives, comprising 59 MoUs and 13 other projects for which foundation stones were laid and 10 commercial production launches in firms in the state, entails a total investment of Rs 52,549 crore, the government said. Cumulatively, such initiatives give job opportunities to 92,420 people, the government said in an official release, adding that the projects are spread across various regions of the state and covered 22 districts.

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At an investment conclave presided by Chief Minister M K Stalin here, MoUs were exchanged for Rs 485 crore worth projects in areospace and defence sector as well, which includes manufacture of spare parts and setting up of an aviation training institute at Salem. Fifty two other projects, cumulatively worth Rs 34,723 crore, includes Data Centres of companies like Adani Enterprises and Larsen and Tourbro. Electric vehicles, renewable fuel (Ethanol), stemcell research were among the other projects.

The CM released the ‘TN Fin-Tech Policy 2021’, which encompasses features like a ‘Fin Tech City’ in Chennai and unveiled an Aerospace and Defence Handbook for enterprises involved in the sector. A Memorandum of Understanding was signed between the state-run TN Industrial Development Corporation (TIDCO) and Dassault Systems to set up a Centre of Excellence at an investment of Rs 212 crore, which is aimed at aiding the aerospace and defence sector enterprises in areas, including design and research.

Stalin also laid the foundation stone for 13 new/expansion projects worth Rs 13,413 crore in fields, including solar power plants, manufacture of motor vehicle spare parts and data centres. Such 13 initiatives are spread across Kancheepuram, Ranipet, Chengelpet, Virudhunagar (Textiles), Namakkal (Spinning Mill) and projected to bring employment opportunities to 11,681 people.

The Chief Minister inaugurated commercial production of 10 firms under various projects in different sectors, totally worth Rs 3,928 crore. Such production units would provide jobs to 3,944 people, the release said. Stalin also launched an upgraded single window ‘2.0’ mobile app to help investors that has features like facilitation vis-a-vis approvals, current status and so on.

He released a coffee table book to mark the culmination of the golden jubilee celebrations of the Coimbatore District Small Scale Industries Association (CODISSIA). Ministers, including Thangam Thennarasu (Industries) and T M Anbarasan (Rural Industries), top officials and industry captains participated.