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Investment proposals totalling more than ₹50,000 crore were announced on the first day of the Global Investors Meet 2015 on Wednesday.
These are spread across renewable energy, financial services, automobile and IT.
The proposals announced are just a sample of the total investment proposals to be announced formally at the conclusion of the event tomorrow. The State Government had set a target of tying up investments amounting to about ₹1 lakh crore and this has been exceeded significantly, say officials.
Gautam Adani, Chairman, Adani Group, told media persons on the sidelines of the event that his company plans to invest ₹15,000-20,000 crore in Tamil Nadu over the next few years. It will cover a range of sectors including thermal power, ports and renewable energy.
HCL plans to invest more than $1 billion (₹6,000 crore) over the next five years in southern Tamil Nadu. Shiv Nadar, Chairman, HCL, announced the company has identified Madurai and Tirunelveli as major centres for growth. HCL has so far invested over ₹6,000 crore in Chennai and Coimbatore development centres. It employs 75,000 persons in India and 1.10 lakh globally.
HCL’s brain centre will be based in Tamil Nadu, where one-third of the company’s work force is present, he said.
Renewable energy SunEdison Inc, a large global renewable energy development company, will invest ₹12,000-14,000 crore in the next five years in Tamil Nadu, Pashupathy Gopalan, President, Asia-Pacific and Sub-Saharan Africa, told newspersons.
The company has signed a memorandum of understanding with the State government to develop 2 gigawatts of wind and solar power.
This is part of the company’s larger plan to develop 15.2 gigawatts of renewable energy in the country by 2022, he said.
Mahindra & Mahindra has informed the BSE that it is signing an MoU with Tamil Nadu committing investments of ₹2,000 crore including its investments in Mahindra Research Valley (MRV), a new test track for MRV and an automotive plant to meet the company's needs over the next five years. The company could also increase the investment to ₹4,000 crore by 2022 for which it can decide over the next few years. While the MRV is located at Mahindra World City, Maraimalai Nagar near Chennai, the MRV test track and the new plant would be set up on about 450 acres at Cheyyar near Kancheepuram.
Power products Delta Electronics of Thailand plans to invest nearly ₹4,000 crore in a new factory in Hosur to manufacture power electronics and energy management products.
Dalip Sharma, Managing Director, Delta India Electronics Pvt Ltd, said when the plant is fully operational, it will employ nearly 10,000 people. The 100-acre facility will be the biggest for the company, he told newspersons.
Rana Kapoor, MD and CEO, YES Bank, said its largest National Centralised Operations Management and Services Delivery facility will be launched in Ambattur.
Spread over four lakh sq ft initially, the facility will be expanded to 9 lakh sq ft by March 2018. The facility will house over 12,000 employees in two phases. It will create new generation financial service jobs in Chennai.
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