Nod for Rs 40,000-cr oil refinery in Thoothukudi

The firm has signed Memorandum of Understanding (MOU) to invest Rs 40,000 crore in the state, in the second edition of Global Investors Meet (GIM) held, last year. “Al Kharafi will setup an oil refinery plant in Thoothukudi and will provide employment to youth in southern districts. Similarly, the state government granted permission for a Chinese company Wintec which has signed MoU to setup electric vehicles manufacturing unit near Chennai,” said sources.

The meeting that lasted for one-hour held discussions on important announcements to be made in the upcoming state budget too.

Sources in Secretariat said, “The budget is expected to be presented in the first week of March and the state government is planning to introduce mega schemes in the budget. The budget has been planned in such a manner to project the state as an investor friendly state.”

Sources also said that the state government has also prepared a vast list of projects to be implemented in the state and sent a proposal to Union government to announce the schemes and funds in the upcoming Union Budget.

“The state has sought funds for the nine new medical colleges sanctioned recently by the Central government. Similarly, Tamil Nadu has also demanded the Centre to announce four additional medical colleges for the state,” said sources.

As the election to the state Assembly is expected in the mid of next year, the budget to be presented in March would officially be the final budget for the present Edappadi K Palaniswami government and to woo the voters the state government has decided to go for a populistic budget.