TN inks 14 MoUs worth Rs 10,055 crore, massive job opportunities expected

The Tamil Nadu government has inked Memoranda of Understanding (MoU) worth Rs 10,055 crore with 14 private firms and this investment is said to have the potential to employ about 7000 persons.

These projects will be implemented in Chennai, Chengalpattu, Kancheepuram, Tirunelveli, Thoothukudi, Tenkasi, Ramanathapuram, Tiruppur and Tiruvannamalai districts. Out of these 14 projects, 10 MoUs were exchanged physically while the remaining four were exchanged online.

Tamil Nadu Industries Secretary N Muruganandam said that the State is ranked first among Indian states in attracting investments during the first six months of this year (April to September). “During the year 2020 (up to September), the State has signed 42 MoUs worth ₹31,464 crore,” he added.

Projects including Rs 6,300 crore investment by JSW group and expansion of units of Apollo Tyres and Britannia Industries at Oragadam and Gangaikondan, respectively, are part of the MOUs.

Other companies are Green Base Industrial Parks (logistics park Rs.750 crore), Mantra Data Centres (data centreRs.750 crore), Apollo Tyres (tyre production expansion Rs.505 crore), TPI Composites (wind mill blade expansion Rs.300 crore), Li Energy (electric vehicle battery packs Rs.300 crore), LS Automotive (Rs.250 crore), Aosheng Hitech Ltd ( carbon fibre plates Rs.200 crore), INOX Air Products (liquid oxygen Rs.150 crore), Hyundai Wia (auto components Rs.109 crore), Grinn Tech Motors (battery manufacturing Rs.90 crore), Counter Measures (small arms, explosive Rs.51 crore) and Vans Chemistry (e-waste recycling facility Rs.50 crore).

Britannia has inked an MoU worth ₹250 crore for expanding its plant at SIPCOT Gangaikondan, Tirunelveli. Britannia had also already signed an MoU during the Global Investors Meet 2019 for its phase I project.