Tamil Nadu Approves Investment Projects Worth Rs 39K Crore

Chennai, Oct 9 (KNN) In a significant move towards industrial growth and job creation, the Tamil Nadu state Cabinet has given the green light to 14 new projects, representing a total investment commitment of Rs 38,698 crore.

These initiatives are expected to generate 46,931 jobs across 12 districts, with Industries Minister T R B Rajaa emphasising that a majority of these positions will be high-skilled roles.

The approved projects span a diverse range of sectors, including automotive and electric vehicles, electronics, green energy, telecom equipment, and advanced manufacturing.

This diverse portfolio aligns with the state government's vision of promoting equitable economic growth throughout the region.

Among the notable investments is Freetrend Industrial India's proposal to establish a manufacturing plant in Ariyalur district.

With an investment of Rs 1,000 crore, this project aims to transform the area into a global hub for the footwear industry and is projected to create 14,000 jobs.

Leap Green Energy, a renewable energy platform, has committed Rs 10,375 crore towards clean energy solutions. The investment will be primarily realised in Thoothukudi, where the company plans to set up a hydrogen power storage plant.

Additional projects will be implemented in Virudhunagar, Tirunelveli, Tiruvannamalai, and Ramanathapuram districts, collectively generating 3,000 jobs, according to Finance Minister Thangam Thennarasu.

The Cabinet has also approved a Rs 13,180-crore proposal from Yuzhan Technology, a subsidiary of Taiwan's Foxconn Group, for a phone manufacturing facility in Kancheepuram. This venture is expected to create 14,000 job opportunities.

Tata Motors received approval for a Rs 9,000-crore investment to establish a state-of-the-art green production facility for cars and sport utility vehicles (SUVs) in Panapakkam, Ranipet district.

This project is set to generate 5,000 jobs. In the same region, Grand Atlantia Panapakkam Special Economic Zone Developers will invest Rs 500 crore, also creating 5,000 jobs.

The pharmaceutical sector will see growth with Tablets India's Rs 250-crore investment in Chengalpattu, which is expected to create 350 jobs. In the electronics manufacturing domain, Kaynes Circuits India's Rs 1,395-crore proposal for a plant in Kancheepuram has been approved, with the potential to generate 1,033 jobs.

Additionally, Ascent Circuits is set to invest Rs 612.6 crore in Hosur, creating 1,200 job opportunities.

These investments mark a significant step in Tamil Nadu's industrial development, promising economic growth and employment opportunities across various sectors and regions of the state.

(KNN Bureau)