TN signs MoUs for 24 projects worth ₹24,248 cr

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Tamil Nadu continues to attract companies to invest in the State. On Monday, the State government signed memorandums of understanding (MoUs) for 24 projects worth ₹24,248 crore, foundation stones laid and project inaugurations done. These projects are likely to create 54,218 jobs, the State government said.

At a function presided over by Chief Minister Edapaddi K Palaniswami, the State government signed 18 MoUs with different companies for an investment of ₹19,955 crore, which will create 26,509 jobs. Further, foundation stones were laid and inauguration done of projects that would bring in an investment of ₹4,503 crore with employment generation potential of 27,709 persons.

Also read: Ola to set up world’s largest scooter factory in Tamil Nadu

An MoU was also signed with Foxconn for a mega industrial housing project at Sipcot Vallam Vadagal.

Some of the other MoUs signed today include First Solar of the US setting up a solar module manufacturing facility at an investment of ₹4,185 crore; Voltas to set up a manufacturing plant at Vedal village, Kanchipuram, at an investment of ₹1,001 crore (2,000 jobs), and Ola Electric Mobility to set up an electric two-wheeler manufacturing unit in Hosur at an investment of ₹2,354 crore (2,182 jobs).

Further, Crown Group will establish an Aerospace Cluster Park, in Salem district, for manufacturing of flight components, sub-systems and drones at an investment of ₹2,500 crore (5,000 jobs); US-based Mylan Laboratories will establish an injection manufacturing project in Krishnagiri District at an investment of ₹350 crore, and Gurit India Pvt Ltd will establish a project for manufacture of wind blade components at Sriperumbudur at an investment of ₹320 crore (300 jobs), says a government release.

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