CHENNAI: Former Industries Minister TRB Rajaa said that a Letter of Intent (LoI) would not bring investments to the State.

Speaking to reporters at Anna Arivalayam on Friday (September 16), he said the DMK regime in the past had attracted investments worth Rs 12.50 lakh crore.

He added that DMK president MK Stalin had insisted that party members should not mix politics with investment promotion.

Questioning the ruling party, Rajaa asked when the TVK-led government would bring investments from other countries to Tamil Nadu.

Explaining the difference between assured investments and a Letter of Intent (LoI), the former Minister said an LoI did not amount to investments being made in the State.

"The TVK-led government has announced plans to set up a Formula 1 racing track. Where is the government going to acquire the land for this project? During the Chief Minister's London visit, why were the Industries Minister and Secretary not accompanying the Chief Minister?" Rajaa asked.

He alleged that the meetings in London had not been properly organised and condemned the arrangements. He also questioned why the Chief Minister, Ministers and officials did not meet the media after returning to Chennai.

Recalling investor meetings and press briefings during the DMK regime, Rajaa said Tamil Nadu was the only State in India to conduct the conversion conclave, adding that the principal Opposition party is alerting the government to issues without making allegations against the ruling party.