Tyre majors MRF Ltd, Apollo Tyres and various other companies in the manufacturing sector have proposed to invest close to Rs 55,201 crore that would generate over 35,000 jobs in Tamil Nadu.
The companies formally signed MoUs with top government officials during the Global Investors Meet here today.
As per the details of the investments proposed by the company as declared by the state government, tyre major MRF Ltd has proposed to invest Rs 4,500 crore to manufacture radial truck and passenger car radial tyres.
"The investments will be Rs 4,500 crore and the expansion will be at Perambalur and Arakkonam manufacturing units. The expansion will generate 2,300 jobs," an official release said.
In a BSE filing, MRF said, "The company signed the memorandum of understanding with the Government of Tamil Nadu to invest not less than Rs 4,500 crore in its manufacturing plants at Perambalur and Arakkonam over a period of seven years."
Meanwhile, tyre manufacturer Apollo Tyres said it has proposed to invest Rs 2,700 crore for manufacturing truck and bus radial tyres.
The investment will be done at its manufacturing unit at Oragadam near Chennai. About 450 employments will be generated, it said.
Steel manufacturer JSW Steel as part of its expansion plans has proposed to invest Rs 1,025 crore for expanding its facility at Kallipattu village, Salem district in Tamil Nadu. The unit will generate employment for about 300 people.
Float glass manufacturer Saint Gobain has proposed to invest Rs 800 crore for expansion plans at its facility in Sriperumbudur near Chennai.
Automajor Mahindra and Mahindra signed an MoU with the Tamil Nadu Government to set up Rs 4000 crore in phases for setting up test track and automotive plant.
"In the first phase it has been proposed to invest about Rs 2,000 crore. It will generate 2,500 employment opportunities. In the second phase Rs 2,000 crore will be invested at the facility to come up in Cheyyar district in Tamil Nadu," it said.
