The Tamil Nadu Government signed MoUs worth INR 10,399 crore

The Tamil Nadu government signs MoU for INR 10,000 crore that envisions investments across many areas in the state – including solar energy manufacturing.

 The government of Tamil Nadu has signed eight new Memoranda of Understanding (MoUs) worth INR 10,399 crore on Monday. The MoUs signed in the presence of Chief Minister K Palaniswami will bring-in investments across many areas in the state – including solar manufacturing.

These 8 MoU’s were signed for projects in areas such as – air compressors, iron foundry, solar cells, and modules manufacturing, industrial parks, cashew nut processing, data centers as well as a foundry expansion project.

According to the official report, the cumulative investment envisaged in the projects will create 13507 jobs in solar cells, data centers, industrial parks all across the state. As per the release statement, projects in the state of Kancheepuram, Chengalpattu, Ranipettai, Coimbatore, Viluppuram, and Erode will be implemented.

The release added that a high-level committee chaired by the Chief Minister would expedite up various clearances and also set up a Special Investment Promotion Task Force, under the chairmanship of the Chief Secretary.

Govt Signed MoUs with these Companies –

1. Vikram Solar: At the Indospace Industrial Park in Oragadam, Kanchipuram, Vikram Solar will invest 5,423 crore rupees into a solar cell and modular manufacturing project. This project is expected to create work for almost 7,542 people.
2. Hiranandani Group: The Yotta Infrastructure of the Hiranandani Group will invest a total of INR 4,000 Crore in the Chengalpattu District, setting up an information data center park. This project will provide almost 2500 people with jobs.
3. ELGi: Coimbatore based ELGi Equipments will invest an amount of INR 250 crore to set up an air compressor unit and is expected to create employment to 600 persons.
4. CGD Satharai: CGD Satharai Private Limited will be investing an amount of INR 250 crore rupees to set up an industrial park in Walajabad, Kanchipuram district. This project will create an employment opportunity for close to 1500 persons.
5. NDR Integrated Industrial Park: NDR Integrated Industrial Park will be investing an amount of INR 200 crore towards setting up an industrial park in Ranipet district – creating an employment opportunity for around 500 persons.
6. Aqua Group: Coimbatore-based Aqua Group will invest INR 200 crore to set up Aquasub’s ductile iron foundry project in the Coimbatore district. The project will create employment for nearly 400 persons.
7. The Coimbatore-based firm will invest an amount of INR 40 crore to set up the Kudranesala project in the Erode district.
8. GI Agro Tech: GI Agro Tech will invest INR 36 crore to set up a cashew nut processing unit project in Villupuram district that will create employment to nearly 465 persons.

Out of eight MoUs, five were signed in the presence of the CM, while three were signed via video conference. During the signing of the MoU, Industries Minister M C Sampath and chief secretary K Shanmugam were also present.

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