Business
Tamil Nadu: Investments Worth Rs 15,000 Crore Approved By Cabinet; 8,000 Jobs Expected To Be Created
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The Tamil Nadu Cabinet has approved investments worth over Rs 15,000 crore in various industrial sectors like battery manufacturing for electric vehicles (EVs), automobiles, wireless technology, textiles and oxygen-manufacturing.
When asked about the names of the investors, Industries minister Thangam Thennarasu refused to name them saying that it was 'commercially sensitive information' and the names would be revealed at the time of the signing of Memorandums of Understanding (MoUs).
Regarding the proposed location of the industries and the number of jobs created, Thennarasu said that southern Tamil Nadu had attracted significant investment but industries would come up in various districts like Chennai, Krishnagiri, Theni and Pudukkottai. He said that around 8,000 jobs are expected to be created.
Talking about prospective projects and investments in the pipeline, he said that aerospace industries are expected to come up in Tuticorin district due to the Kulasekharapatnam space port project of Indian Space Research Organisation (ISRO).
He added that the state government plans to set up a textile park in Sivakasi near to a mega textile park being planned by the Union government.
Further, he added that to boost the sale of EVs, the government had decided to continue the road tax exemption for them.
Bharatiya Janata Party (BJP) state president K Annamalai, had recently come down heavily on the Dravida Munnetra Kazhagam (DMK) government's Dravidian economic model for not being able to bring major investments to the state and ensuring balanced regional development.
