What flight of investment? Not one industry has left TN: Jayalalithaa

CM says maintenance of law and order & availability of quality power supply made State a choice for industries.

Published: 12th August 2016 05:54 AM  |   Last Updated: 12th August 2016 05:57 AM   |  A+A-

What

CHENNAI: Asserting that not even a single industry had fled the State, Chief Minister J Jayalalithaa on Thursday told the Assembly that Tamil Nadu continued to be the most attractive place for investments due to maintenance of law and order and availability of quality power supply.

“The Chief Ministers of Karnataka and Andhra Pradesh and many other states had pleaded with the investors of Tamil Nadu to come to their states by offering free land and other concessions.  But not even one industry had gone to other State. To make a profitable and successful investment, the primary requisite will be maintenance of law and order and quality power supply. Neighbouring states of Karnataka and Andhra Pradesh are today in a position to purchase power from Tamil Nadu. As such, even after many years, no investor would move to other states. Instead, they would make a beeline only to Tamil Nadu,” she said.

Jayalalithaa said this while responding to the charge of T R B Raja (DMK) during the discussion on the demands for grants for Industries Department that certain industries had fled from Tamil Nadu to other states.

The Chief Minister said the factory for manufacturing coaches for Metro Rail Project which was originally planned in Tamil Nadu, had gone to Andhra Pradesh. “Can the DMK member say why this had happened?” Jaya asked. Responding, Raja said the coach manufacturing company was owned by the Central government and added that he would not like to go into the details. Besides, he also started reeling out some other data. Intervening, Jaya clarified that the Metro Rail project was a joint venture of Central and State governments. However, she pointed out that Raja, instead of answering her question, was deviating to other subjects.

On another occasion, Jayalalithaa pointed out that the previous DMK government had signed the MoU for Metro Rail Project in a manner which would cost Tamil Nadu government dearly on many counts. According to the MoU, while the Central government would have a share in the profit earned by the Metro Rail, in case of loss, it should borne only by the State government. Besides, if the loan availed the from Japan based JICA could not be repaid, the Central government could wash off its hands while the State government had to repay it fully.

Stay up to date on all the latest Tamil Nadu news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp