16 US companies to invest ₹2,700 crore in Tamil Nadu

Our Bureau Chennai | Updated on September 04, 2019 Published on September 04, 2019

Edapaddi K Palaniswami   -  PTI

Sixteen US-based companies have committed to invest a total sum of ₹2,780 crore in Tamil Nadu, and provide job opportunities for nearly 20,000 people. The companies signed a Memorandum of Understanding (MoU) at an investor meeting held in New York during Chief Minister Edapaddi K Palaniswami’s visit.

The companies include Aquil Systems, Scitus Pharma, Nurray Chemicals, Novitium Labs, Jogo Health, ST LNG, Saram 4, Emerson, Aspire Consulting, Revature-LLC and Zillion Technologies, says a government press release. In addition, Haldia Petrochemicals Ltd signed an agreement for a Naphtha Cracker Unit in the State with an investment of nearly ₹50,000 crore, says a government press release.

Palaniswami also had discussions with some of the industrialists, including Manish Bhandari, Warren Knapp, Melissa Kessler and Mark Johnson in New York seeking investment.

The investors meeting was attended by over 200 delegates from various sectors, including fintech, space and aerospace. Representatives from companies like Ford and Caterpillar that have presence in Tamil Nadu were also present, the release said.

Palaniswami is on a 10-day visit to the UK, US and Dubai to woo investors to the State. During his visit to London, he signed agreements with healthcare service providers. In the US, he went to Buffalo and visited a dairy farm to explore the possibility of setting up one in Tamil Nadu.

He will end his international tour with Dubai where he will attend business investors’ meet, jointly organised by the Indian Embassy, the Business Leaders Forum and the UAE. He is expected to India on September 10.

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Published on September 04, 2019
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