Hyundai, CPCL among investment plans worth Rs 65,000 cr cleared by TN govt

During second edition of GIM, Tamil Nadu has set a target to sign over 140 MoUs, committing an aggregate investment in excess of Rs 2.4 trn

The Tamil Nadu cabinet has cleared investment proposals worth Rs 65,000 crore, which are expected to be signed at the upcoming Global Investors Meeting (GIM) scheduled here for next week.

The proposals includes Hyundai's Rs 7,000 crore investment plan and Indian Oil Corporation (IOC) subsidiary Chennai Petroleum Corporation (CPCL's) Rs 27,450 crore project.

During today's three-hour long meeting, 10-11 investment proposals were cleared for around Rs 15,000 crore MoUs, taking the combined value of around 40 plans to Rs 65,000 crore, said a person who attended the meeting. This is the third meeting of the State Cabinet in the past 30 days.

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