TN inks 16 MoUs for Rs 5,137 crore investment
Chennai, July 23 (IANS) The Tamil Nadu government on Thursday signed MoUs with 16 investors for a potential investment of Rs 5,137 crore in various projects, an official statement said.
The MoUs were signed at the state secretariat, in the presence of Chief Minister K. Palaniswami.
The MoUs, when converted into actual projects, are expected to generate about 6,555 jobs.
Among the proposed projects are Adani Enterprises’ information data centre in Chengalpattu district at an investment of Rs 2,300 crore, Super Auto Forge’s plant to manufacture forged steel and aluminium parts in Kancheepuram district at an investment of Rs 500 crore, and Airflow Equipments’ Rs 320 crore transport spare parts plant in the same district.
Also, ATC Tires is to invest Rs 250 crore on a technology enhancement project in Tirunelveli district, Visteon to invest Rs 100 crore to make electrical parts for automobiles in Chengalpattu district and Top Anil Marketing Rs 100 crore in a vermicelli manufacturing unit in Dindigul.
Princeton plans to invest Rs 750 crore to set up an information data centre at Siruseri, BPL-FTA Energies will set up a facility to make lithium ion batteries at Kancheepuram or Cheyyar at an outlay of Rs 500 crore, while Siruvaru Motors will invest Rs 150 crore to make electric bikes.
Seven MoUs were signed with US-based companies which had committed investments in Tamil Nadu during Palaniswami’s visit there some time back.
These include Tirel Network Solutions, which will invest Rs 25 crore for an artificial intelligence-powered food and agriculture supply chain project, and Cloud Enablers Rs 35 crore for autonomous and continuous governance for the enterprise cloud project.
SwirePay will invest Rs 23 crore for a digital payments project, Plethy Rs 22 crore on a digital health scheme, Radus Digital Rs 21 crore for an Artificial Intelligence ventue, and Contintue Rs 20 crore for a SaaS-based Enterprise Risk Automation project.
While all the above projects are to be located in Chennai, E-learning company Bitwise Academy will invest Rs 21 crore in Coimbatore.
–IANS
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