TN inks MoUs worth over Rs 1 lakh crore


Stalin also laid the foundation stone for 21 industrial projects worth Rs 22,252 crore with a potential of 17,654 jobs…reports Asian Lite News

The makers of green hydrogen, solar cells, lithium ion cells, aerospace component, pumps for ships, electric vehicles (EV), drones, textiles and others were part of 60 companies that signed investment Memoranda of Understanding (MoU) with the Tamil Nadu government on Monday.

In a big boost to the industrialisation of Tamil Nadu government, the 60 MoUs are worth Rs 125,244 crore investments and 74,898 jobs – direct and indirect.

The ACME Green Hydrogen and Chemicals will set up its facilities to make green hydrogen and green ammonia in Tuticorin at an investment of Rs.52,695 crore, said Chief Minister M.K.Stalin.

Stalin, who was present at the MoU signing ceremony Tamil Nadu Investors’ First Port of Call Investment Conclave held here, also inaugurated 12 new industrial projects worth Rs 1,497 crore with a potential of 7,050 jobs.

Stalin also laid the foundation stone for 21 industrial projects worth Rs 22,252 crore with a potential of 17,654 jobs.

Some of the big names that have signed the investment MoUs with Tamil Nadu are Tata Power Ltd, Caterpillar, Mahindra and Mahindra, Amplus (Petronas), Rane Holdings, Voltas, Elgi Sauer, Lucas TVS and others.

Speaking at the function Stalin said 68 per cent of the MoU projects will come up in the Southern region thereby spreading out the industrialisation in the state.

At the event, Stalin also released the Tamil Nadu Life Sciences Promotion Policy-2022 and the Tamil Nadu Research and Development Policy 2022.

Electricity generation company Tata Power has signed a MoU with the government of Tamil Nadu to invest approximately Rs 3,000 crore, for setting up a greenfield 4 gigawatts solar cell and 4 gigawatts solar module manufacturing.

The plant would be set up in Tirunelveli district of Tamil Nadu, an official statement said.

The investment in this project is planned to be made over a period of 16 months, and it hopes to contribute towards the emergence of clean energy, while at the same time, creating employment in the state.

“The investment in the plant will be made over a period of 16 months and will directly or indirectly create over 2,000 employment opportunities with majority of them being women employees,” the statement said.

The MoU was signed by Thiru S. Krishnan, Additional Chief Secretary to Government of Tamil Nadu, Industries Department, and Praveer Sinha, CEO & MD, Tata Power in the presence of Chief Minister of Tamil Nadu during the Investors’ First Port of Call, Investment Conclave 2022.

Tata Power also has a manufacturing unit in Bangalore, which has a production capacity of 635 megawatts of modules and 500 megawatts of cells.

“India has opportunity to spearhead the usage of clean and green energy solutions to meet its energy requirements. Tata Power Solar’s new production facility is being set up with the support and assistance of Tamil Nadu Government, will help to meet the rising demand for clean energy solutions in the country apart from providing huge employment opportunities,” said Praveer Sinha, CEO and MD, Tata Power, while signing the MoU.

Tata Power is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed or managed capacity of 13,735 mega watts.

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