Chennai: The Tamil Nadu government on Wednesday signed 17 Memorandums of Understanding (MoU) involving an investment of Rs 15,128 crore having a potential to generate about 47,150 jobs.
Finland based Saalcomp, which manufactures mobile phone components for Apple, has signed MoU to invest Rs 1,300 crores in Sriperubudur Special Economic Zone (SEZ) to expand mobile component production facility.
The company earlier signed MoU to invest Rs 500 crores in Tamil Nadu Global Investor Meet (GIM) 2019.
German heavy vehicle manufacturer Daimler India has agreed to invest Rs 2,277 crores in Oragadam SIPCOT industrial park in Kancheepuram to expand production facility.
Vivid Solaire Energy, a French company has signed MoU worth Rs 2000 crores to expand solar energy projects in Southern districts of Thirunelveli and Thoothukudi.
HDCI Data centre holdings have proposed to establish a data centre in Ambattur, near Chennai. Investment envisaged in this project is worth Rs 2,800 crores.
Chinese electric vehicle major BYD has agreed to invest Rs 50 crores in Sriperumbudur for electric vehicle manufacturing.
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The company earlier signed an agreement with the Tamil Nadu government to invest Rs 2,800 crores for mobile component manufacturing.
US-based Lincoln electric has proposed to open an R&D centre in Mahindra industrial park near Chennai.
Japan-based Polymatech Electronics has exchanged MoU to establish a semiconductor chips manufacturing plant in Oragadam, Kancheepuram. Australian company Lai investment Manager (Logos) has agreed to invest Rs 400 crores to set up an industrial park in Kanchipuram.
Taiwan based Joint venture (JV) Chung Jye and Aston shoes proposed investment of Rs 350 crores to start a footwear manufacturing plant.
Netherland based Dinex's Rs 100 crore investment to establish Automobile component manufacturing plant, Indo-Britain joint venture (JV) Chennai power generation's agreement of Rs 3000 crores investment to generate 750 MW power using natural gas.
Rs 1500 crore investment by Singapore based ST Telemedia to set up a data centre, German-based Batter's investment of Rs 210 crores to manufacture windmill components are the major deals inked by the Tamil Nadu government.
As many as nine MoUs were exchanged physically with the chief minister, while others were signed via video conference.
According to the state government, these MoUs has the potential to create 47,150 employment opportunities in the state. Most of the investments are proposed in and around Chennai and Kancheepuram.
Many companies are reportedly shifting manufacturing facilities out of China, after the COVID-19 crisis, to reduce the dependence on the country.
Tamil Nadu government has set up a special Investment promotion Task Force under the chairmanship of chief secretary K Shanmugam to attract investments from China.
Also, the state set up a high-level panel headed by former Reserve Bank Governor Dr C Rangarajan, to assess the impact of COVID-19 in the state and suggest measures to improve the fiscal condition and diversify tax revenues.
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