Economy

TN inks investment deals worth ₹35,723 crore with 52 companies

TE Raja Simhan Coimbatore | Updated on November 23, 2021

Tamil Nadu Chief Minister MK Stalin   -  The Hindu

CM Stalin inaugurates conclave in Coimbatore; launches fintech policy

As Tamil Nadu marches towards a $1-trillion economy by 2030, the State, on Tuesday, signed MoUs with 52 companies worth ₹35,723 crore that  will create 74,835 jobs.

Chief Minister MK Stalin presided over the function in Coimbatore organised by Guidance Tamil Nadu in which ten companies inaugurated their projects worth ₹3,929 crore (3,944 jobs) and laid the foundation stone for 13 projects of ₹13,413 crore (11,681 jobs).

He also launched the Tamil Nadu FinTech Policy 2021 and the Tamil Nadu Single Window Portal Mobile App.

Dalmia Bharat Green Vision, Welspun One Logistics Park, Hindustan Unilever, TVS Motor, Adani Enterprises and Larsen & Toubro were some of the top companies that signed MoUs with the Tamil Nadu government at the Tamil Nadu Investment Conclave held in Coimbatore.

MoUs

Dalmia Bharat will invest ₹2,600 crore for cement grinding units in Coimbatore, Chengalpattu and Virudhunagar districts; Welspun One Logistics Park will invest ₹2,455 crore in  industrial and logistics park at Kancheepuram and Tiruvallur districts; Hindustan Unilever will set up its nutrition and beverage products manufacturing at an investment of ₹1,900 crore; Shell India Markets, UK, is to set up retail fuel outlet and storage facilities across Tamil Nadu at a cost ₹1,400 crore and TVS Motor is to invest ₹1,200 crore for an electric vehicle manufacturing unit in Krishnagiri district.

 

Data centre MoUs

Adani Enterprises will invest ₹2,500 crore in a data centre (phase II) in Chennai; L&T will set up a data centre in Chennai at a cost of ₹2,000 crore; STT Global Data Centres, Singapore (phased II) at an investment of ₹1,500 crore; Tapaz Info Parks, Singapore, will invest ₹1,500 crore in a data centre in Chennai; CtrlS will set up a data centre in Chennai at a cost of ₹1,448 crore and Nxtra by Airtel will invest in a data centre (phase II) in Chennai at a cost ₹700 crore.

Units inaugurated

Greaves Electric Mobility (Ampere) inaugurated its electric vehicles (2-wheelers) manufacturing unit at Ranipet with an investment of ₹400 crore; One Paramount (RMZ) inaugurated its IT/ITeS facility in Chennai at a cost of ₹1,800 crore; Nxtra by Airtel inaugurated its data centre (phase I) in Chengalpattu district an investment of ₹500 crore and STT Global data Centres, Singapore, opened its data centre (phase I) in Chennai at ₹500 crore and Milky Mist for dairy product manufacturing in Erode district at a cost of ₹600 crore (jobs for 500 persons).

Foundation stone laid

Stalin laid the foundation stone for Britannia Industries’ FMCG Products manufacturing in Tirunelveli district at an investment of ₹550 crore. He also laid the foundation stone for the wind turbine gearbox manufacturing facility of Flender Drives, Germany, in Kancheepuram district at a cost of ₹500 crore.

 

Aerospace

Dassault Systems of France signed an MoU to set up an aerospace centre of excellence for virtual and design engineering in the State at a cost of ₹212 crore.

Stalin also released a Directory of Aerospace and Defence industries in the State. It was compiled by Tidco to showcase  manufacturing capabilities and will  provide contact details and the product range of each of the companies listed in it.

In his speech, Stalin said this is the first such conference since the DMK formed the new government in the State. The first was held in August; the second (Export conclave) in September and the third in Coimbatore on Tuesday. “Our goal is to make Tamil Nadu the number one in the country, and also the top investment destination,” he said.

Venu Srinivasan, Chairman, TVS Motor Company, said that in the last five months Chief Minister Stalin had achieved what would otherwise take five years. He also praised the Chief Minister on the effective handling of the corona pandemic and the recent floods.

Published on November 23, 2021

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