CHENNAI: The state Cabinet on Tuesday approved 14 new projects with an investment commitment of Rs 38,698 crore, enabling the creation of 46,931 jobs. Most of them are high-end jobs, said Industries Minister T R B Rajaa.
These projects will be spread across 12 districts and span diverse sectors including auto and electric vehicles, electronics, green energy, telecom equipment and advanced manufacturing. The investments are in line with the state government’s vision of equitable growth.
The state Cabinet has cleared Freetrend Industrial India’s proposal to set up a manufacturing plant in Ariyalur worth Rs 1,000 crore, which will make the district a hub for the global footwear industry and generate 14,000 jobs.
Other investments include Rs 10,375 crore by Leap Green Energy, a renewables platform, focused on providing clean energy solutions, which will create 3,000 jobs. The investment will be realised in Thoothukudi, where the firm plans to set up a hydrogen power storage plant, apart from Virudhunagar, Tirunelveli, Tiruvannamalai and Ramanathapuram districts, Finance Minister Thangam Thennarasu said.
The Rs 13,180-crore proposal of Yuzhan Technology, part of Taiwan’s Foxconn Group in Kancheepuram, has received Cabinet nod. This investment into manufacturing of phones is expected to generate 14,000 jobs.
Other proposals cleared by the Cabinet include the Rs 9,000-crore investment by Tata Motors to set up a world-class green production facility to manufacture cars and sport utility vehicles (SUVs), at Panapakkam in Ranipet district, generating 5,000 jobs.
Similarly, Grand Atlantia Panapakkam Special Economic Zone Developers will be investing Rs 500 crore which will generate 5,000 jobs.
Apart from that, the Cabinet has cleared the proposal worth `250 crore of Tablets India, a leading pharma company, which is investing in Chengalpattu, generating 350 jobs. The Rs 1,395-crore proposal of Kaynes Circuits India, one of the prominent players in electronic systems design and manufacturing services, to set up a plant in Kancheepuram that will generate 1,033 jobs, has also been cleared. Ascent Circuits is investing Rs 612.6 crore in Hosur and will generate 1,200 jobs.