CHENNAI: Giving further boost to the State’s economy, 16 Memoranda of Understanding were signed on Thursday in the presence of Chief Minister Edappadi K Palaniswami for new projects with a cumulative investment of Rs 5,137 crore.
The company units coming up in Chennai, Chengalpattu, Kancheepuram, Dindigul, Coimbatore and Tirunelveli districts are expected to generate jobs for 6,555 people. Six of the 16 MoU were exchanged in person, and the remaining through online means.
The Adani Enterprises Limited would set up a data centre at a cost of Rs 2,300 crore at SIPCOT Siruseri IT Park in Chengalpattu district, while Super Auto Forge has proposed to establish a project for manufacturing cold and warm forged steel and aluminium parts as well as high speed assembly switches in SIPCOT Vallam Vadagal, Kancheepuram District, at a cost of Rs 500 crore.
Big ticket investments in Tamil Nadu
We would also set up a plant to manufacture high speed assembly switches for which have received orders from global tier-I companies. The switches help in transmission of power from engine to the wheel, said the CM. Start-ups chosen by the American Tamil Entrepreneurs Association (ATEA) have also invested in the State. This comes after Chief Minister Edapaddi K Palaniswami launched the "Yaadhum Oorae" forum for Tamil Diaspora to invest in the State.
ATEA co-founder Lena Kannapan told Express that of the investments from start-ups in San Jose include Srivaru Motors Pvt Ltd which has proposed to establish a project for manufacture of e-bikes with an investment of `150 crore and an employment potential for 2000 people.
The company is presently identifying land in Coimbatore District for the project. The other major investment is from Cloud Enablers, USA, that has proposed to establish an 'Autonomous and Continuous Governance for the Enterprise Cloud' project with an investment of `35 crore in Chennai.
Including those signed on Thursday, the State government has totally inked 41 MoU in the last two months. On May 27, the State had signed 17 MoU — totally worth `15,218 crore investment and expected to generate 47,150 jobs — with multinational companies from Germany, Finland, Taiwan, France, Korea, Japan, China, USA, Australia, UK, and the Netherlands. Similarly, on July 20, eight MoU were signed with various companies for total `10,399 crore investment and 13,507 jobs.
During the exchange of MoU on Thursday, the Chief Minister launched a Guidance website — www.investingintamilnadu.com – which was fully revamped to meet investor expectations, with stress on sectoral focus, regional outreach, and export promotion among others. Industries Minister MC Sampath, Chief Secretary K Shanmugam, Industries Secretary N Muruganandam, and other senior officials were present on the occasion.
Greenfield project
While Adani Enterprises officials could not be reached, the MD of Super Auto Forge told Express that the investment project would include a new greenfield project as well as expansion of the existing project