CHENNAI: The Tamil Nadu government on Thursday signed a Memorandum of Understanding (MoU) with SCM Garments, paving the way for a Rs 50 crore investment in Thiruvarur district that is expected to generate 2,500 new jobs, according to an official release.

The MoU was signed at the Secretariat in the presence of Chief Minister M.K. Stalin. SCM Garments is one of the leading textile manufacturing companies in the State.

“The Tamil Nadu government has been taking initiatives to attract investments and create employment opportunities, with the goal of achieving a one trillion-dollar economy by 2030. In line with this vision, Thiruvarur district will get a new investment in the textile sector,” the release added.