TN Cabinet clears investment proposals worth Rs 50,000 cr; Cabinet discusses EODB and MSME related agenda
Chennai, Jan 21 (KNN) Tamil Nadu Chief Minister Edappadi K Palaniswami-led cabinet has cleared an investment proposals worth Rs 50,000 crore to showcase the state as an attractive investment destination.
During the Cabinet meeting, discussions were also held on single window clearances and the pending projects, ease of doing business and micro, small and medium enterprises (MSME) related agenda to facilitate speedy implementation of projects.
The clearances of investment proposals worth Rs 50,000 crore include offering structured package of incentives, based on the employment generation potential of these units.
The middle-east based Al Kharafi plans to build an oil refinery and petrochemical complex in SIPCOT industrial park in Tuticorin.
The cabinet also gave clearances for expansion of couple of units, including Kaleeswari and Renault Nissan.
The state government has also set up a facilitation cell for investment guidance and single window clearance led by the chief minister to clear all the hurdles that come in the way of implementing projects.
Last week, the cell cleared 15 projects with a total investment of 6,608 crore and the projects are set to generate jobs for 6,763 people in districts like Tuticorin, Tiruvallur, Kancheepuram, Coimbatore, Trichy, Perambalur, Krishnagiri and Vellore.