Tamil Nadu Government to sign 12 MoUs worth Rs 20,925 crore. The major investments include Hyundai Motor India Ltd, which is planning to invest around Rs 4,000 crore in its expansion plan, US-based PPG investemt of around Rs 4,100 crore to set up a float glass manufacturing facility.
Speaking at the Assembly today Tamil Nadu Chief Minister J Jayalalithaa said that the State Cabinet gave its approval for the proposals. These includes paint maker PPG investment of around Rs 4,100 crore along with Harsha Exito Engineering private ltd to set up a fibre and float glass manufacturing facility at SIPCOT, Kanchipuram district. This project would create 1850 jobs.
The Korean-auto major Hyundai got the cabinet nod for its Rs 4,000 crore investment proposal. The proposed investment is to expand its capacity at Irrungatkootai, near Chennai. Indo Rama also got nod from the Cabinet to invest Rs 4500 crore for setting up a synthetic Fibre and petro chemical manufacturing plants at Chennai, Ennore and Coimbatore.
Similarly, BGR Energy Group, which is JV between BGR and Hitachi has got its nod for Rs 2,325 crore proposal to set up a boiler, turbine and generators manufacturing facility at Cheyyar.
TVS Group companies have got approval to invest around Rs 700 crore to set up manufacturing units for components, rubber and plastic for the Group companies. The projects will come at Chennai, Hosur and at Oragadam and it will be a combination of greenfield and brown field. Around 1300 people will get direct employment.
The $4.4 billion Chennai-based Murugappa Group's two companies have got approval to invest around Rs 500 crore in Tiruvallur and Kanchipuram districts. The group companies will manufacture components for cycles and scooter and industrial machinery.
The other major companies which got approvals for their investment proposals include Danfoss (Rs 500 crore), Sanmina-SCI (Rs 250 crore), Nokia (Rs 250 crore), Amway (Rs 300 crore), Saint Gobain (Rs 400 crore) and Rs 3100 croreADD Industrial Park which will set up a textile park in Coimbatore.
In total, these 12 companies will invest around Rs 20,925 crore in Tamil Nadu and these projects will create employment to 36,855 people directly and another one lakh indirectly.
"On November 5, 2012 the Government will sign MoUs with the 12 companies in Chennai," said the Chief Minister.
It may be noted on May 14, 2012 the state Government signed MoUs with five companies who have planned to invest Rs 5,700 core.
