CHENNAI: It has been nearly two years since the global investors’ meet, where 98 memorandums of understanding (MoUs) were signed to bring in Rs 2.42 lakh crore investment, that was expected to generate 4.7 lakh jobs. It has been reliably learnt that till last month, Rs 30,000-crore investments have been realised.
According to information available with Express, about 76,000 job opportunities have so far been created. As many as 61 projects that together entail Rs 62,738 crore investments are under implementation.
In terms of realisation of the MoUs, the Tamil Nadu Energy Department falls in the lowest bracket. It signed 15 MoUs together worth Rs 1.07 lakh crore but the department has been able to realise an investment of only Rs 1,275 crore. As per official figures, only two projects have been implemented thus far.
Nine of the projects that are yet to be taken up are from the solar energy sector. These include those proposed by Suzlon (Rs 15,550 crore), Gamesa (Rs 8,000 crore), Empereal Group of Companies (Rs 7,000 crore), Hindustan Clean Energy (Rs 3,625 crore), Emmvee Group (Rs 3,000 crore), North Eastern Electric Power Corporation Ltd (Rs 2,936 crore), Senfra Ltd (Rs 720 crore), Sun Borne Energy Services Ltd (Rs 600 crore) and Asun Solar Private Ltd (Rs 175 crore). “We have yet to receive applications,” sources said.
Similarly, of the 50 MoUs totalling Rs 1.04 lakh crore signed by the Industries Department, only Rs 22,864 crore worth investments have been realised. The 50 MoUs were to generate 1.14 lakh jobs, but in reality, only 17,504 job opportunities were created. The Industries Department said that 43 projects were under implementation with a committed investment of Rs 36,486 crore.
The big figures
98 Total MoUs
A2.42 lakh crore Total committed investment
61 Projects currently under implementation
A62,738 crore Committed investment for 61 projects
A29,615 crore Actual investment
A4.70 lakh Total job commitment
76,271 Jobs realised
D500-cr industrial park faces green hurdle
The D500-crore Sojitz-Motherson Industrial Park in Kancheepuram, the first Japanese-affiliated general industrial park in India and fourth overseas industrial park developed by Japanese global trading conglomerate Sojitz, is facing issues over clearances as it comes under the ‘red’ category of industries
The project that will have a total development area of 115 hectares, lying approximately 45 km south-west of Chennai, is hit by a delay in approval from the Public Works Department for drawing one million litres of water a day from the Thenneril lake. Similarly, the Tamil Nadu Pollution Control Board has to amend the rules on environment clearance and consent to establish and accommodate ‘red’ industries
Sojitz is providing 34 percent of the capital of the new company and the Samvardhana Motherson Group, one of India’s largest makers of automobile parts, will provide 66 per cent
Industrial park on HR&CE land
The D925-crore MoU for Sumitomo-Mahindra and Mahindra Industrial Park to house industrial, commercial and residential units, including social infrastructure in Ponneri, could realise D235 crore investment
Mahindra Lifespace Developers Ltd, through its subsidiary Mahindra World City Developers Ltd, signed a joint venture with Japan’s Sumitomo Corporation to set up the industrial park in North Chennai. The project is facing issues like transfer of 19.06 acres of the Hindu Religious and Charitable Endowments land plus approval from the Directorate of Town and Country Planning