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Tamil Nadu ranks first in fresh investments

Wednesday, July 15, 2020 • Tamil Comments

Over the three-month period of the nationwide lockdown amidst the coronavirus pandemic, Tamil Nadu has brought in fresh investments of nearly Rs. 18,236 crore, taking the state to the top position in the list of the ten states in the country to invite fresh investments. The Tamil Nadu government recently signed pacts with 17 companies for bringing in fresh investments of over Rs 15,100 crore, thus creating job opportunities for over 47,150 people in the state. Stating that nine pacts were signed at the Secretariat in the presence of Chief Minister Edappadi K Palaniswami and closing the deal with the remaining eight other companies via a virtual link, the government mentioned that the investments, to the tune of Rs 15,128 crore, will be in diverse sectors including manufacturing of commercial vehicles and energy.

According to reports, the 17 MoUs were 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, Chenna i 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. The companies which signed the MoUs are from Germany, Finland, Taiwan, France, South Korea, Japan, China, USA, Australia, UK and the Netherlands.

Regarding the investments, CM EPS had earlier stated, "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 15,128 Crores worth of investment and 47,150 jobs in Tamilnadu. We will continuously work towards creating more job opportunities in TN. 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."

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