State government to sign MoUs for 35 projects today
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The State government is expected to sign Memoranda of Understanding for 35 new projects, entailing investments worth over ₹17,000 crore, at an investment conclave in Chennai on Tuesday.
Sources said the foundation stone for 9 projects would be laid by Chief Minister M.K. Stalin on the occasion, besides the inauguration of five other projects.
This will be the first series of MoUs to be inked by the two-month-old DMK government.
In all, 49 projects would take off in various locations across Tamil Nadu, either through the signing of MoUs, laying of foundation or inauguration. “Some of the firms that would be part of the MoU signing event are real estate firm CapitaLand, French firm Cryolor, Avary, Cheyyar SEZ, TCS, JSW Energy and Vikram Solar,” a senior government official said.
He added that sanction orders would be given for a few start-ups too. On Monday evening, Industries Minister Thangam Thennarasu posted a tweet: “47 projects, Rs. 28,664 crore, 82,400 employment”. [Officials said this included completed/new projects].
While JSW Energy would sign an MoU for setting up renewable energy power plants in Thoothukudi, Tiruppur and Tirunelveli districts on an investment of ₹3,000 crore, the MoU with CapitaLand would pave the way for establishing a data centre at Ambattur on an investment of ₹1,500 crore. TCS would set up an IT/ITES unit on an investment of ₹900 crore.
The event would also witness the laying of the foundation for a liquid oxygen production unit by INOX Air products at Hosur. It would entail an investment of ₹150 crore, with a capacity of 200 MT a day.
Among the projects that would be inaugurated are of Vikram Solar at Oradagam; DP World – Integrated Chennai Business Park (I) Pvt Ltd; Danish auto component manufacturer Dinex’s unit in Mahindra World City; and Coral Manufacturing Works’ unit in Erode.
Some of the projects that will go live were initiated during the former AIADMK regime, which had conducted Global Investors Meet in 2015 and 2019.
Many of the MoUs signed during these two events are yet to fructify while some are in various stages of work in progress.
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