TN to sign MoUs with Japanese firms: Jayalalithaa

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SME Times News Bureau | 13 Feb, 2012
Tamil Nadu Chief Minister J. Jayalalithaa Sunday said her government would soon sign Memoranda of Understanding (MoU) with a couple of Japanese companies willing to invest in production bases in Chennai.

Inaugurating the plant of Toshiba JSW Turbine & Generator Pvt Ltd here, she said: "At present some large Japanese companies are considering substantial investments in Tamil Nadu. My government will soon sign MoUs with these companies."

She said Japanese companies had been evincing interest mainly in the manufacturing sector where Tamil Nadu is a leading state.

"The auto sector accounts for about 60 percent of Japanese foreign direct investment in Tamil Nadu. I am confident that Chennai will emerge as the world's largest auto cluster," Jayalalithaa said.

Assuring all her previous speakers who had requested her to strengthen roads and bridges, she said: "My government is aware of the infrastructure problems particularly the connectivity bottlenecks to Ennore Port currently faced by Toshiba and Nissan. On this occasion, I wish to assure you that my government is taking steps to solve these port connectivity related issues expeditiously."

Jayalalithaa said Japanese companies are evincing interest in investing in infrastructure projects as well.

"The Joint Steering Committee consisting of the Government of Tamil Nadu and METI (Ministry of Economy, Trade and Industry), Japan has identified a number of infrastructure projects for cooperation," Jayalalithaa said.

These include promotion of new industrial parks, Japanese Industrial Townships, logistics parks, Chennai-Bengaluru Corridor of Excellence, waste water treatment, desalination and others.

She said a few Japanese prefecture governments like Kanagawa and Aichi prefectures have evinced interest in signing cooperation agreements with Tamil Nadu.

Speaking at the function Norio Sasaki, president and CEO of Toshiba Corporation said the 500 company group is writing a new page in the Indian power sector history with its Chennai plant.

He requested the Tamil Nadu government to strengthen the roads and bridges so that they can bear the turbine load.