Edappadi K Palaniswami lays foundation stone for Rs 14,071 crore projects
Chennai: In a major impetus to industrialisation, Chief Minister Edappadi K. Palaniswami on Wednesday laid the foundation stone for Rs 14,071 crore worth projects aimed at creating 12,294 jobs. These 12 projects were committed at the second edition of the Global Investors Meet (GIM) held under the aegis of the State government and Industries department on January 23 and 24, here, this year.
In addition, the CM launched the commercial production of Sheng Long Biotech India Pvt Ltd with an investment of Rs 180 crore aiming to create jobs to 170 persons. This project was signed at the first edition of the GIM in 2015 when J. Jayalalithaa was the Chief Minister.
Sheng Long Biotech India Pvt Ltd is engaged in fishing, operation of fish hatcheries and fish farms, service activities incidental to fishing. It has a unit in Thervoy Kandigai in Kancheepuram district.
Some of the top companies that signed MoUs at the GIM II include Korean auto-major Hyundai Motor for Rs 7,000 crore, tyre major MRF Ltd for Rs 3,100 crore and auto-components maker Sundaram Clayton Group to invest Rs 1,200 crore. A total of 309 MoUs, attracting investments to the tune of Rs 3 lakh crore, were signed at the GIM. These projects would create direct and indirect employment for 10.5 lakh people.
Some of other companies which signed MoUs in the second GIM include steel-wheels manufacturer Wheels India for Rs 600 crore, Mando Automotive India '844 crore, Salcomp Manufacturing India to set up mobile parts equipment at Nokia Special Economic Zone at an investment of Rs 500 crore. Coimbatore-based Lakshmi Machine Works Ltd which would invest Rs 600 crore to take up expansion of its facility, Roots Industries India for Rs 23 crore, Roots Multiclean Ltd for Rs 45 crore, Pure Chemicals Ltd Rs 20 crore, J S Auto Cast Foundries for Rs 39 crore to set up an automobile parts manufacturing unit.
Thanjavur-based Sastra University has also planned to invest Rs 100 crore to take up expansion plans. Industries minister M. C. Sampath, fisheries minister D. Jayakumar and chief secretary Girija Vaidyanathan, were among those present on the occasion.
