TN to get Rs 20,925-cr investment from 12 major projects

Our Bureau Chennai | Updated on March 12, 2018 Published on November 01, 2012

Hyundai’s Rs 4,000-crore expansion project at its Sriperumbudur plant in Tamil Nadu is among the projects cleared by the State Cabinet.   -  The Hindu

Tamil Nadu is to attract a cumulative investment of Rs 20,925 crore from 12 major industrial projects. This includes new and expansion projects. This investment is likely to give direct employment to 36,855 people and indirectly to about a lakh.

On November 5, the 12 companies will sign agreements with the State Government said J. Jayalalithaa in the State Assembly.

The State Cabinet, which met on October 27, cleared five major projects. This includes the Rs 4,000-crore expansion project of Hyundai at its Sriperumbudur plant; the Rs 4,500-crore synthetic fibre manufacturing facility of Indo Rama and the Rs 2,325-crore joint venture between BGR Energy and Hitachi group for turbine manufacturing, said a State Government press release.

The Cabinet also cleared the setting up of a textile park in Coimbatore by ADD Industrial Park in 2,200 acres. In the first year of operations, the park will provide jobs for nearly 2,000 people and in the seventh year to around 25,000.

Saint Gobain is expanding its facility at Sriperumbdur at a cost of Rs 400 crore to provide employment to around 500 people, the release said.

The Cabinet, which met on October 26, cleared the Rs 4,100-crore fibre glass and float glass manufacturing facility of the US-based PPG Industries in joint venture with Harsha Exito Engineering Private Ltd (India). The company will establish a 50-50 joint venture for the manufacture and sale of fibre glass reinforcement product in the Sipcot industrial park in Kancheepuram district.

A State Government press release says that the facility will create a direct employment of around 1,850 people.

The projects to be cleared by the State Cabinet are of the TVS group (Rs 700 crore), Murugappa group (Rs 500 crore), Danfoss (Rs 500 crore), Sanmina-SCI (Rs 250 crore), Nokia (Rs 250 crore) and Alticor Inc (Rs 300 crore), the release said.


Published on November 01, 2012
This article is closed for comments.
Please Email the Editor