Pushing ahead with its improvement agenda, the Tamil Nadu government on Monday signed 18 Memorandum of Understanding (MoUs) worth `19,955 crore, with corporate homes and industrial groups, which will produce jobs for 26,509 folks.
The firms which have signed MoU incorporates Torrent Gas, First Solar, Crown Group of Companies, Ola Electric, Voltas, Mylan and Mahindra CIE, amongst other people. The MoUs had been signed in the presence of Tamil Nadu chief minister Edappadi K Palaniswami.
While Torrent Gas tops the investment chart with Rs 5,000 crore, First Solar has committed to invest Rs 4,185 crore, Ola Electric Rs 2,354 crore, Crown Group Rs 2,500 crore Voltas Rs 1,001 crore, Mylan Rs 350 crore and Mahindra CIE Rs one hundred crore. In total, the 18 providers have committed about Rs 19,955 crore with a total employment guarantee of 26,509.
Ola has proposed to set up an electric two-wheeler manufacturing unit at Hosur, Krishnagiri district with an investment of Rs 2,354 crore with an employment possible for about 2,182 persons.
Crown Group has proposed to establish an Aerospace Cluster Park for manufacturing of Flight elements and subsystems and Drone manufacturing in Salem district with an investment of Rs 2,500 crore and employment possible for about 5,000 persons. Torrent Gas is organizing to establish city gas distribution network in Chennai and Tiruvallur and it has proposed to invest Rs 5,000 crore with an employment possible for 5,000 persons.
First Solar, the world’s biggest manufacturer of thin-film photovoltaic solar modules working with sophisticated thin-film semiconductor technologies, proposed to establish a solar module manufacturing facility in Tamil Nadu. The investment in the manufacturing facility is Rs 4,185 crore with an employment possible for about 1,076 persons.
Society for Smart Electric Mobility (SSEM) has proposed to set up an EV and future mobility park with talent improvement, analysis centre and also facilitate the setting up on manufacturing industries inside the park in Thathanur, Tiruppur district with a proposed investment of Rs 2,500 crore and employment possible for 1,000 folks.
Voltas has proposed to set up a manufacturing facility of AC and industrial refrigeration items in Vedal Village, Kanchipuram district. The proposed investment in this project is about Rs 1,001 crore with an employment possible for about 2000 persons.
Mylan Laboratories has proposed to establish an injection manufacturing project in Kurubarapalli, Krishnagiri district with an investment of Rs 350 crore and would produce employment for 250 persons.
Mahindra CIE has proposed to establish a project for manufacture of auto elements in Hosur, Krishnagiri with an investment of Rs one hundred crore which will produce jobs for 500 persons.
SIPCOT has proposed to establish an industrial housing project for the accommodation of staff of Foxconn in its industrial park at Vallam Vadagal, Sriperumpudur taluk of the Kanchipuram district. An MoU was signed in between SIPCOT and Foxconn for this project. Palaniswami also laid the foundation stone for 5 industrial projects worth Rs 4,456 crore which will produce 27,324 jobs.
The cumulative investment in the above 24 projects (MoU projects, foundation stone laid projects and inaugurated project) is about Rs 24,458 crore and the employment possible will be about 54,218 persons.