19 companies invest over Rs 5,000 crore in Tamil Nadu

Chief Minister Edappadi K Palaniswami laid the foundation stone for eight companies, with the cumulative investment of Rs 2,368 crore and commenced the operation of 11 new industrial plants, with a total investment of Rs 3,185 crore.

Eight companies for which the foundation stones were laid would generate employment to 24,870 persons and the industrial units that had commenced their operations would provide jobs to another 6,955 persons in the state.

In the last two months, the government had signed MoUs worth more than Rs 30,000 crore aimed at generating employment to more than 65,000 persons in the state.

The steering committee appointed by the state government to attract investments during the COVID-19 lockdown phase was continuously following the MoUs signed since the first Global Investors Meet (GIM) held in 2015 and had successfully brought in the investments.

Among the eight investments for which foundation stones were laid, six were from the second edition of GIM held in January 2019.

Similarly, out of the 11 investments that had commenced their industrial production eight were from the GIM-I.

Among the projects, for which foundation stones were laid, the major investment was the International Tech Park, Chennai-Radial Road, at Pallavaram, at a cost of Rs 1,500 crore. The investment alone will provide employment to more than 23,000 persons.

Similarly, among the companies that commenced their commercial operations, TPI Composites pvt ltd is the major investor with Rs 730 crore. The company, which is present in Capital Land Industrial Park in Kancheepuram district, is involved in manufacturing windmill blades.