world is news

Tamil Nadu inks 14 MoUs price Rs 10,055 crore

Spread the news

CHENNAI: The Government of Tamil Nadu signed 14 Memorandum of Understanding (MoUs) price Rs 10,055 crore on Monday, a press assertion confirmed.

The state leads the nation in post-Covid investments in Q1 and Q2 (non-public investments and manufacturing) with 42 MoUs price Rs 31,464 crores being signed throughout the interval to create 69,712 jobs.

The MoUs signed on Monday with overseas and home firms at present will generate a further 7000 new jobs within the state, the assertion learn.

“Tamil Nadu has been the frontrunner in post-COVID investments within the nation and proven how states can undertake and rebuild economies within the ‘new normal’. Tamil Nadu’s wonderful industrial ecosystem, skilled manpower, connectivity, related provide chains and pragmatic insurance policies permits buyers to reap the benefits of world realignment of worth chains,” mentioned Dr Neeraj Mittal, MD and CEO of Guidance, the nodal company for funding promotion and facilitation.

An MoU was signed with JSW Renew Energy’s hybrid mission for Rs 6300 crore whereas MoUs with Aosheng and TPI Composites have been additionally signed for renewable power manufacturing.

Keeping the impetus for information centre investments price Rs 8300 crores from Yotta infrastructure, HDCI Data Centre Holdings and ST Tele Media, an MoU was signed with Spain’s Mantra Data Centre for 750 crore making the state an rising hub for information centres with aggressive actual property and submarine cable touchdown stations, the assertion mentioned.

Being an auto hub, MoUs have been signed with Apollo Tyres for Rs 505 crore, Hyundai Wia for Rs 109 crore and LS Automotive for Rs 250 crore. Further, the state continues to draw electrical mobility investments and signed MoUs with Li-Energy for Rs 300 crore and Grinntech for Rs 90 crores.

An MoU with Britannia was signed for Rs 250 crore whereas an MoU with Hiranandani’s Greenbase will see investments of Rs 750 crore in creating industrial park within the state of Tamil Nadu.

The MoUs have been signed within the presence of Chief Minister Edappadi Okay Palaniswami, State Industries Minister MC Sampath and Principal Secretary, Industries N Muruganandam.


Spread the news