Tamil Nadu signs 17 agreements for investments of over ₹15,100 crore

The Memorandums of Understanding have been signed with companies from various countries and are expected to provide jobs to over 47,000 people

In the midst of the global COVID-19 pandemic, the Tamil Nadu government on Wednesday inked 17 Memorandums of Understanding (MoU) with companies from various countries, for investments to the tune of about ₹15,128 crore, which are expected to provide jobs for over 47,100 people.

Representatives from these companies from Germany, Finland, Taiwan, France, South Korea, Japan, China, United States, Australia, England and the Netherlands exchanged signed agreements with Tamil Nadu officials, in the presence of Tamil Nadu Chief Minister Edappadi K. Palaniswamiat the Secretariat here.

“I have formed a Special Investment Promotion Task Force as we fight COVID19. As a result, we have signed MOUs with 17 institutions that will bring 15128 Crores worth of investment and 47150 jobs in Tamilnadu. We will continuously work towards creating more job opportunities in TN,” Mr. Palaniswami tweeted.

“We have the most skillful manpower with electricity and water in surplus and most importantly one of the top states in maintaining good law and order. I welcome all the investors to #InvestinTN We are committed to help you through the entire investment process,” he tweeted.

The investments are to be made in the manufacturing of heavy vehicles, electronics, footwear, energy and medical equipment sectors among others, an official release stated.

The MoUs have been signed with: Daimler India Commercial Vehicles, Polymatech Electronics, Salcomp, Chung Jye Company Ltd & Aston Shoes Pvt Ltd, Lai Investment Manager Pvt Ltd, Mando Automotive India Pvt Ltd, Dinex, Chennai Power Generation Ltd, IGL India Transplantation Solutions Pvt Ltd, Vivid Solaire Energy Pvt Ltd, HDCI Data Centre Holdings Chennai LLP, ST Tele Media, Baettr, BYD India Pvt Ltd, TJR Precision Technology Company Ltd, Pillar Industries India Pvt Ltd and Lincoln Electric.

Industries Minister M.C. Sampath, Chief Secretary K. Shanmugam, Industries Secretary N. Muruganandham and senior officials were also present.