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Wisdom Making Your Dreams Come True!

T.N. signs 14 MoUs to bring in ₹10,055 cr. investment

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Chief Minister Edappadi K. Palaniswami on Monday signed 14 MoUs entailing investments of ₹10,055 crore with potential to generate employment for over 7,000 people. The projects include fresh and expansion investments in locations including Chennai, Chengalpattu, Kancheepuram, Tirunelveli, Thoothukudi, Tenkasi, Ramanathapuram, Tiruppur and Tiruvannamalai districts. Tamil Nadu Industries Secretary N. Muruganandam said that at a time when the world economy is gradually recovering from the adverse fallout of the COVID-19 pandemic, Tamil Nadu has been taking all steps to accelerate industrial development by attracting investments. “During 2020 (up to September), the State has signed 42 MoUs worth ₹31,464 crore,” he added. A senior official said the Strengthening Guidance (Tamil Nadu’s nodal agency for investment promotion and single window facilitation) team has helped the State bring in more investments. “The CM has been personally viewing each project or firm that evinces interest to invest in Tamil Nadu. These two formulas have worked out well,” he said. According to Neeraj Mittal, MD and CEO of Guidance, “The teams (Guidance, Industries Department and Sipcot) have been working 24/7 and we have broadened the scope of picking up leads. The CM is also reviewing all investment proposals that come in. And this has helped bring in more investment.”

Publisher Name: The Hindu