‘Strong mechanism will be set up to monitor MoUs’

Energy secretary Md Nasimuddin said that he was aware of industry representation over bringing down the power tariff, which is currently high.

CHENNAI: Tamil Nadu will be setting up a strong mechanism to monitor all 300 Memoranda of Understanding signed during the Global Investors Meet to ensure that investments worth Rs 3 lakh crore are realised, according to Industries secretary N Muruganandam.

Addressing the Confederation of Indian Industry (CII) Tamil Nadu Annual Day here on Thursday, he said that bureaucrats will be nominated to monitor the status of every 10 projects. He highlighted that a study will be carried out soon to find out which all sectors the State have an advantage. He said policies are being framed to come out with e-vehicle policy and private industrial parks policy. He also said the State would undertake periodic interaction with existing industries in all Sipcot campuses.

Energy secretary Md Nasimuddin said that he was aware of industry representation over bringing down the power tariff, which is currently high. “It is a policy decision and the existing prices will continue for some more time. We are at it,” he said.

Earlier, P Benjamin, Minister for Rural Industries, including Cottage Industries, Small Industries, said a seed money of `5 lakh will be given to anyone promoting a start-up in Tamil Nadu. He said that plans are afoot to promote 5000 start-ups in the State along with 10 global start-ups, all for making Tamil Nadu a pioneer in terms of industrial development.

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