ENA State 2024-10-09 15:37:30 <p><span style="font-size:14px"><strong>Chennai, Oct 9 (KNN)</strong> 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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">The approved projects span a diverse range of sectors, including automotive and electric vehicles, electronics, green energy, telecom equipment, and advanced manufacturing.</span></p> <p><span style="font-size:14px">This diverse portfolio aligns with the state government's vision of promoting equitable economic growth throughout the region.</span></p> <p><span style="font-size:14px">Among the notable investments is Freetrend Industrial India's proposal to establish a manufacturing plant in Ariyalur district.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">Additional projects will be implemented in Virudhunagar, Tirunelveli, Tiruvannamalai, and Ramanathapuram districts, collectively generating 3,000 jobs, according to Finance Minister Thangam Thennarasu.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">Additionally, Ascent Circuits is set to invest Rs 612.6 crore in Hosur, creating 1,200 job opportunities.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39541 https://knnindia.co.in/news/newsdetails/state/tamil-nadu-approves-investment-projects-worth-rs-39k-crore 2024-10-09 15:37:30 knnindia.co.in