TN adds Rs 24,000 crore investment at Hosur investors' meet

CHENNAI/COIMBATORE: Stepping up the efforts to bring in more investments to Tamil Nadu, the State government secured commitments worth Rs 24,307 crore at the TN Rising investment conclave in Hosur on Thursday. The projects are expected to generate 49,353 jobs.

During the event, the third one branded as TN Rising, 92 Memoranda of Understanding (MoUs) were signed in the presence of Chief Minister MK Stalin. Of these, 53 MoUs are under the Industries Department, bringing in Rs 23,303.15 crore investment and generating 44,870 jobs, and the remaining 39 MoUs under the MSME Department contributing Rs 1,003.85 crore and 4,483 jobs.

The biggest of the lot was the project mooted by Zetwerk to set up a Rs 5,000 crore solar cell manufacturing unit that will provide 3,000 jobs and boost the renewable energy value chain.

DCX Systems Ltd, in partnership with Israel's IAI-ELTA Systems, signed an agreement to set up a defence electronics facility in Krishnagiri with an Rs 850 crore investment, generating 165 jobs through the production of advanced radar and electronic warfare systems.

Aspire Footwear Pvt Ltd of the Aravind Group will invest Rs 350 crore in a non-leather footwear unit at SIPCOT, Katpadi, creating 6,000 jobs, while International Aerospace Manufacturing Pvt Ltd (IAMPL) announced a Rs 200 crore expansion of its Hosur SEZ aerospace facility, adding 69 jobs.

Besides these new commitments, Chief Minister Stalin inaugurated SIPCOT's Future Mobility Park at Shoolagiri, developed on 300 acres at a cost of Rs 210 crore. The park has already allotted land to 22 firms with planned investments of Rs 2,728 crore and 6,682 jobs. Three completed projects involving Rs 250 crore and 1,100 jobs were opened, and foundation stones were laid for four projects with Rs 1,210 crore investment and 7,900 jobs.

Addressing the gathering, Stalin said 77 per cent of the MoUs signed by his government have turned into investments. “I instructed officials to focus on the conversion of MoUs into implementation and ensure the process is quick. Our goal is to create jobs for youth and women to improve their economic status,” he said.

The Tamil Nadu Innovation Platform, launched at the conclave, will integrate data on startups, incubators and investors across districts.

Ministers R Sakkarapani and TRB Rajaa, MLAs, and officials were also present at the event.