TN signs 24 MoUs with investment outlay of Rs 2,120 cr

Chennai, Sep 22 The Tamil Nadu government on Wednesday signed 24 Memorandums of Understanding (MoU) for various industrial projects involving an investment of Rs 2,120.54 crore.

The MoUs when fructify into actual projects, they can provide employment opportunities to 41,695 persons.

The MoUs were signed at Tamil Nadu Exports conclave held here presided over by Chief Minister M.K. Stalin.

The proposed investments are in different sectors like textiles (Ramaraju Surgical Cotton Mills investment Rs 425 crore), latex gloves (Kanam Latex, Rs 310 crore), IT/ITES (Pinnacle Infotech Rs 286.34 crore), leather (Mohib Group Rs 225 crore) and others, the government said.

The industries will come up across the state in Chennai, Kancheepuram, Tirupathur, Krishnagiri, Madurai, Salem, Tiruchirappalli, Thanjavur, Thoothukudi, Dindigul and Tirunelveli Districts ensuring balanced growth throughout the state.

Similarly, MoUs were signed between Flipkart/Walmart and MSME Trade and Investment Promotion Bureau (M-TIPB) for promotion of e-commerce among MSMEs in Tamil Nadu through a supplier development programme.

The M-TIPB also signed a MoU with Indo German Chamber of Commerce for collaboration between MSMEs in Tamil Nadu and businesses in Germany.

Stalin also handed over land allotment letters to two companies setting up their units in the Polymer Park set up near here for polymer industry.