TN signs 14 MoUs worth Rs 10000 cr, generate 7000 jobs

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October 13, 2020 3:40 AM

Tamil Nadu, as a frontrunner for investments in renewable energy, signed an MoU with JSW Renew Energy’s hybrid project for Rs 6,300 crore. MoUs with Aosheng & TPI Composites were also signed for renewable energy manufacturing.

The state continues to attract electric mobility investments and has signed MoUs with Li-Energy for Rs 300 crore and Grinntech for Rs 90 crore.The state continues to attract electric mobility investments and has signed MoUs with Li-Energy for Rs 300 crore and Grinntech for Rs 90 crore.

Tamil Nadu government on Monday signed 14 memoranda of understanding (MoUs) worth Rs 10,055 crore, aimed at creating an additional 7,000 new jobs in the state. The fresh MoUs follow 42 MoUs worth Rs 31,464 crore in Q1 and Q2 that were targeted at generating 69,712 jobs.

Tamil Nadu, as a frontrunner for investments in renewable energy, signed an MoU with JSW Renew Energy’s hybrid project for Rs 6,300 crore. MoUs with Aosheng & TPI Composites were also signed for renewable energy manufacturing.

Keeping the impetus for data centre investments worth Rs 8,300 crore from Yotta infrastructure, HDCI Data Centre Holdings and ST Tele Media, an MoU was signed with Spain’s Mantra Data Centre for Rs 750 crore making the state an emerging hub for data centres with competitive real estate and submarine cable landing stations.

The state continues to attract investments in automobile and auto components and MoUs were signed with Apollo Tyres for Rs 505 crore, Hyundai Wia for Rs 109 crore and LS Automotive for Rs 250 crore. The state continues to attract electric mobility investments and has signed MoUs with Li-Energy for Rs 300 crore and Grinntech for Rs 90 crore.

An MoU with Hiranandani’s GreenBase will see investments of Rs 750 crore in developing an industrial park in the state of Tamil Nadu. Neeraj Mittal, MD and CEO of Guidance, the nodal agency for investment promotion and facilitation said “Tamil Nadu has been the frontrunner in post-Covid investments in the country and shown how states can adopt and rebuild economies in the ‘new normal’. Tamil Nadu’s excellent industrial ecosystem, trained manpower, connectivity, connected supply chains and pragmatic policies allow investors to take advantage of a global realignment of value chains.”

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