Tamil Nadu Chief Minister Edappadi K Palaniswami on Monday laid the foundation stone for eight projects entailing investments to the tune of ₹2,368 crore. He also inaugurated 11 projects worth ₹3,185 crore that will provide employment to over 6,955 persons in the next few years.
In a live streaming session, N.Muruganandam, Principal Secretary, Department of Industries, said the MoUs for all these projects were signed during the first and second editions of Global Investors Meet (GIM) and some were signed during other occasions.
Industries Minister M.C.Sampath and Neeraj Mittal, MD and CEO, Guidance, Industries Department, were present and industrialists from across the State joined in through a zoom call to watch this event.
Key projects
Some of the key projects for which the foundation stone was laid include International Tech Park Chennai (ITPC) promoted by the CapitaLand group. This is a ₹1,500 crore project. The firm will commence construction for the first phase of the 23.3-acre IT park.
ITPC, Radial Road, has 4.6 million sq.ft of development potential for premium Grade A office space.
Vinamra Srivastava, CEO, Business Parks, CapitaLand India, said: “Chennai is one of our key markets for growth. We have invested in IT parks, industrial townships, warehousing and lodging in the city. With both operational CapitaLand IT parks in Chennai – ITPC at Taramani and CyberVale – fully occupied, our ITPC, Radial Road will offer more options for IT and IT-enabled services companies to expand their businesses in the city.”
Another key venture is from TATA Chemicals which has proposed to establish a project for manufacturing Silica in SIPCOT Industrial Park, Cuddalore, with an investment of ₹350 crore. Foundation stone was laid for Nissei Electric, Japan, which will manufacture electric and electronic components entailing investments worth ₹105 crore. This MoU was signed during the second edition of the Global Investors Meet (GIM) that was held at the Chennai Trade Centre in 2019.
The Chief Minister also laid the foundation stone for Usui Susira, Japan (₹100 crore); Dinex (₹100 crore); Steel Shoppe for manufacturing steel parts for automobile industry (₹150 crore); MRC Mills textile project in Sipcot Industrial Park, Cuddalore (₹47 crore) and Sri Raajarajeshwari Life Care (₹16 crore).
COVID-19 drug
Sri Raajarajeshwari Life Care has conveyed that it is planning to manufacture COVID-19 drugs in this facility in Kambur Village, Viluppuram. Foundation stone was laid for the AEROHUB – Advanced Computing and Design Engineering Centre for Aerospace and Defence Industries at the upcoming Aerospace Park in Sriperumpudur, established by Tidco in Joint Venture with Tidel with a ₹250 crore investment.
Some of the projects that were in pipeline for the last few years also went live on Monday. They include TPI Composites, USA (₹730 crore); Glovis Hyundai, Korea (₹608 crore); Sojitz Motherson, Japan (₹500 crore); Rajapalayam Mills (₹350 crore); JMatadee (₹80 crore); Hibrow Healthcare (₹75 crore); Mahindra Steel Services (₹75 crore) ;Gulf Oil (₹220 crore) ; TCS (₹24 crore) ;Teemage (₹47 crore) and Mothi Spinners, Lucky Yarn Tex and Lucky Weaves (₹451 crore).
Last week, the State government had signed a series of MoUs in various sectors. In the first round eight MOUs worth ₹10,399 crore with an employment potential of over 13,507 people were signed. Three days later 16 more MoUs worth ₹5,137 crore that will create employment opportunities for over 6,555 people were signed by the Chief Minister.
