Home Auto News Industry Tamil Nadu inks 16 MoUs for Rs 5,137 crore investment

Tamil Nadu inks 16 MoUs for Rs 5,137 crore investment

Chennai: The Tamil Nadu authorities on Thursday signed MoUs with 16 traders for a possible investment of Rs 5,137 crore in varied initiatives, an official assertion said.

The MoUs had been signed on the state secretariat, within the presence of Chief Minister Ok. Palaniswami.

The MoUs, when transformed into precise initiatives, are expected to generate about 6,555 jobs.

Among the proposed initiatives are Adani Enterprises’ data knowledge centre in Chengalpattu district at an investment of Rs 2,300 crore, Super Auto Forge’s plant to fabricate solid metal and aluminium elements in Kancheepuram district at an investment of Rs 500 crore, and Airflow Equipments’ Rs 320 crore transport spare elements plant in the identical district.

Also, ATC Tires is to take a position Rs 250 crore on a expertise enhancement undertaking in Tirunelveli district, Visteon to take a position Rs 100 crore to make electrical elements for cars in Chengalpattu district and Top Anil Marketing Rs 100 crore in a vermicelli manufacturing unit in Dindigul.

Princeton plans to take a position Rs 750 crore to arrange an data knowledge centre at Siruseri, BPL-FTA Energies will arrange a facility to make lithium ion batteries at Kancheepuram or Cheyyar at an outlay of Rs 500 crore, whereas Siruvaru Motors will make investments Rs 150 crore to make electrical bikes.

Seven MoUs had been signed with US-based firms which had dedicated investments in Tamil Nadu throughout Palaniswami’s go to there some time back.

These embody Tirel Network Solutions, which can make investments Rs 25 crore for a man-made intelligence-powered meals and agriculture provide chain undertaking, and Cloud Enablers Rs 35 crore for autonomous and steady governance for the enterprise cloud undertaking.

SwirePay will make investments Rs 23 crore for a digital funds undertaking, Plethy Rs 22 crore on a digital health scheme, Radus Digital Rs 21 crore for an Artificial Intelligence ventue, and Contintue Rs 20 crore for a SaaS-based Enterprise Risk Automation undertaking.

While all of the above initiatives are to be positioned in Chennai, E-learning company Bitwise Academy will make investments Rs 21 crore in Coimbatore.

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