TN signs investment MoUs worth Rs 125,244 cr

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IANS | 04 Jul, 2022
The makers of green hydrogen, solar cells, lithium ion cells, aerospace component, pumps for ships, electric vehicles (EV), drones, textiles and others were part of 60 companies that signed investment Memoranda of Understanding (MoU) with the Tamil Nadu government on Monday.

In a big boost to the industrialisation of Tamil Nadu government, the 60 MoUs are worth Rs 125,244 crore investments and 74,898 jobs - direct and indirect.

The ACME Green Hydrogen and Chemicals will set up its facilities to make green hydrogen and green ammonia in Tuticorin at an investment of Rs.52,695 crore, said Chief Minister M.K.Stalin.

Stalin, who was present at the MoU signing ceremony Tamil Nadu Investors' First Port of Call Investment Conclave held here, also inaugurated 12 new industrial projects worth Rs 1,497 crore with a potential of 7,050 jobs.

Stalin also laid the foundation stone for 21 industrial projects worth Rs 22,252 crore with a potential of 17,654 jobs.

Some of the big names that have signed the investment MoUs with Tamil Nadu are Tata Power Ltd, Caterpillar, Mahindra and Mahindra, Amplus (Petronas), Rane Holdings, Voltas, Elgi Sauer, Lucas TVS and others.

Speaking at the function Stalin said 68 per cent of the MoU projects will come up in the Southern region thereby spreading out the industrialisation in the state.

At the event, Stalin also released the Tamil Nadu Life Sciences Promotion Policy-2022 and the Tamil Nadu Research and Development Policy 2022.