Foreign investment will industrialise Tamil Nadu, says Edappadi Palaniswami

CHENNAI: Aiming to silence the opposition DMK demanding a white paper on investment flow into Tamil Nadu, the government on Monday came out with exhaustive details on the memoranda signed during Chief Minister Edappadi K. Palaniswami’s tri-nations trip abroad.

Mr. Palaniswami’s recent trip to woo investors abroad has resulted in inking the pact with 35 companies in the US alone for a total commitment of Rs. 5,085 crore in Tamil Nadu. The ventures would facilitate jobs to about 24,720 persons. The just-concluded foreign trip of the CM was a success, and it has materialised in signing a total of 41 Memoranda of Understanding (MoUs) for investments to the tune of Rs.8,830 crore, which could generate around 37,300 jobs in the State.

Mr. Palanisamy has toured the US, UK and Dubai for 14 days starting on Aug. 28 and he returned to the metro on Sept. 10. DMK president M.K. Stalin who has been highly skeptical of the CM’s overseas trip had raised various doubts. He had also demanded the government to come out with a white paper on the investments and employment that could be generated.

Accordingly, the State government has released details of the MOU signed during the Chief Minister's foreign trip.

Through the Investors’ Meet in New York, investments to the tune of Rs. 2,780 crore are expected to materialise, fetching with them 20,000 jobs. Officials from Haldia Petrochemicals and the Naphtha Cracker Unit met Mr. Palaniswami and held consultations on investing in the State.

Immediately after he returned, when asked about Stalin’s criticism of his foreign trip, Mr. Palaniswami had replied, that the DMK leader was making such comments as he was ‘jealousy’ and that the visit undertaken by him and other Ministers was aimed only at attracting investments to the State.