CHENNAI: With Tokyo aiming to expand its commercial footprint in the State, five firms are keen on making substantial investment during the upcoming Global Investors Meet (GIM), Japan External Trade Organisation director general Hidehiro Ishiura, said on Thursday.
However, he declined to divulge details about the size of investment by the Japanese companies.
“The investment is huge. Five companies are keen to invest in Tamil Nadu. It is up to the State government to give its clearance for the projects,” he told Express on the sidelines of the 3rd Trade Meet organised by Kamarajar Port and Madras Chamber of Commerce and Industry here.
Pointing out that there are 577 Japanese companies operating in Chennai at present, Ishiura said Tamil Nadu continues to be the preferred investment destination for companies from his country. The GIM would offer huge opportunity for companies from there, he said, adding that the footprint of Japan is thus likely to grow further this financial year. Tamil Nadu is expecting investments worth Rs 1 lakh crore during the meet.
Meanwhile, the Ennore Port is expanding the parking space to cater to 17,500 cars. The decision was taken after Japanese companies faced congestion during the end of the month due to large export orders. “This is a big challenge for us. As the parking space will lie empty for every 20 days of the month,” said R Senthil Kumar, general manager, operations, Kamarajar Port.
“But we have agreed to take it up after the request of JETRO director general. Kamarajar Port is being patronised by Japanese companies. Companies like Toyota and Nissan are dependent on the port. The addition of 5,000 more car park space will make the Port a leading port in the country,” he added.