Tamil Nadu inks 14 MoUs worth Rs 10,055 crore

CHENNAI: The Government of Tamil Nadu signed 14 Memorandum of Understanding (MoUs) worth Rs 10,055 crore on Monday, a press statement confirmed.

The state leads the country in post-Covid investments in Q1 and Q2 (private investments and manufacturing) with 42 MoUs worth Rs 31,464 crores being signed during the period to create 69,712 jobs.

The MoUs signed on Monday with foreign and domestic companies today will generate an additional 7000 new jobs in the state, the statement read.

“Tamil Nadu has been the frontrunner in post-COVID investments in the country and shown how states can adopt and rebuild economies in the ‘new normal’. Tamil Nadu’s excellent industrial ecosystem, trained manpower, connectivity, connected supply chains and pragmatic policies allows investors to take advantage of global realignment of value chains,” said Dr Neeraj Mittal, MD and CEO of Guidance, the nodal agency for investment promotion and facilitation.

An MoU was signed with JSW Renew Energy’s hybrid project for Rs 6300 crore while MoUs with Aosheng and TPI Composites were also signed for renewable energy manufacturing.

Keeping the impetus for data centre investments worth Rs 8300 crores from Yotta infrastructure, HDCI Data Centre Holdings and ST Tele Media, an MoU was signed with Spain’s Mantra Data Centre for 750 crore making the state an emerging hub for data centres with competitive real estate and submarine cable landing stations, the statement said.

Being an auto hub, MoUs were signed with Apollo Tyres for Rs 505 crore, Hyundai Wia for Rs 109 crore and LS Automotive for Rs 250 crore. Further, the state continues to attract electric mobility investments and signed MoUs with Li-Energy for Rs 300 crore and Grinntech for Rs 90 crores.

An MoU with Britannia was signed for Rs 250 crore while an MoU with Hiranandani’s Greenbase will see investments of Rs 750 crore in developing industrial park in the state of Tamil Nadu.

The MoUs were signed in the presence of Chief Minister Edappadi K Palaniswami, State Industries Minister MC Sampath and Principal Secretary, Industries N Muruganandam.

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