26 applications for investments worth Rs 8,320 crore approved

Could create 13,146 jobs; 20 other applications, worth `4,304 cr, are pending beyond stipulated time limit

CHENNAI: A total of 26 applications for investments worth Rs 8,320 crore have been approved by different agencies of the State government till Monday, generating a whopping 13,146 job opportunities. Twenty other applications, worth Rs 4,304 crore, with a potential to create 25,374 jobs, are pending with authorities beyond the stipulated time limit for single-window approvals, according to official sources. 

Of the pending projects, seven, worth `857.39 crore, have been given in-principle approval. This includes Rs 500 crore project of Yanmar Engine Manufacturing India private limited, the agreement of which was signed during the Global Investors Meet, which is pending with the Directorate of Town and Country Planning.

The plant is to be set up in Gummidipoondi at Mahindra Industrial Park. It is learnt that the clearance, which is pending for 50 days, is likely to be given. “We have been asked to submit some drawing and I hope we will get the required approval by this week,” said a company official.Other projects which have got approval but are pending include that of Rs 29.15 crore-Krisnaveni Carbon products wherein land is yet to be handed over to the local body and town panchayat has to give acceptance. Meanwhile, there are 20 projects worth Rs 3,409 crore, generating 23,641 jobs for which in-principle approval is yet to be given. 

These include the `62 crore project by Kone Elevator India and Rs 600 crore-Olympia Cyberspace project which is pending for more than three months as the State Environment Impact Assessment Authority (SEIAA) approval is awaited. Applications for nine projects worth Rs 1,731 crore, generating 8,945 jobs are yet to be completed, it is learnt. 

These include the Rs 47.20 crore project of MRC Mills Private Limited, Rs 226.50 crore - Glovis India, Rs 47 crore - Besco Realty India, `108 crore - Timken Engineering and research and Rs 850 crore - Estancia IT Park, among others. Four projects worth Rs 351.58 crore that could generate 1,680 jobs, are pending with agencies within timeline, sources said.

Total project applications under Single Window scheme: 59
Proposed investment: `14,828.31 crore
Committed employment: 56,127
Approved by all agencies: 26 projects
Proposed investment: `8,320 crore
Jobs to be generated: 13,146
Pending with agencies beyond timeline: 
20 projects
Proposed investment: `4,304 crore
Proposed employment: 25,374
Projects pending with agencies within timeline: 4
Proposed investment: `351.58 crore
Proposed jobs to be generated: 1,680
Applications yet to be completed by companies: 9
Proposed investment: `1731 crore
Jobs to be generated: 8,945

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