Economy

TN government signs MoUs with 16 firms for ₹5,137-crore investments

Our Bureau Chennai | Updated on July 23, 2020 Published on July 23, 2020

TN Chief Minister Edappadi K.Palaniswami   -  THE HINDU

The deals will create 6,555 jobs across the State; TN has signed investment pacts worth ₹30,664 crore since May

The Tamil Nadu government today signed MoUs with 16 companies that would bring an investment of ₹5,137 crore and provide employment to 6,555 persons. This comes within three days of the State government signing MoUs with eight companies for bringing in investment of ₹10,399 crore and providing 13,507 jobs.

On May 27, the State government had signed 17 MoUs worth ₹15,128 crore that would provide employment to 47,150 persons.

The three tranches of MoUs are expected to bring a cumulative investment worth ₹30,664 crore to the State and provide employment to 67,212 persons.

Today, the companies that signed the MoUs were — Adani Enterprises (₹2,300 crore investment; 1,000 jobs) at Siruseri; Princeton Digital Group (₹750 crore; 100 jobs) at Siruseri: Super Auto Forge (₹500 crore; 500 jobs) at Vallam Vadagal; BPL-FTA Energies (₹500 crore; 300 jobs); Airflow Equpment (₹320 crore; 500 jobs) at Vallam Vadagal; Top Anil Marketing (₹100 crore; 1,000 jobs) at Dindigul; Visteon (₹100 crore) at Maraimalai Nagar; ATG Tires (₹250 crore; 400 jobs) in Gangaikodan; Sivaru Motors (₹150 crore; 2,000 jobs) in Coimbatore; Corestack (₹35 crore; 150 jobs) in Chennai; SwirePay (₹23 crore; 30 jobs); Radius Digital (₹21 crore; 100 jobs); Tier1Network Solutions Inc., (₹25 crore; 20 jobs) in Chennai, and Continube (₹20 crore; 35 jobs) in Chennai; bitWise Academy (₹21 crore; 100 jobs) in Coimbatore and Plethy (₹22 crore; 20 jobs) in Chennai.

Out of the 16 MoUs, six were signed in the presence of Chief Minister Edapaddi K Palaniswami and the rest via video conference, says a government press release.

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Published on July 23, 2020
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