Source : The Hindu | Dated : NOVEMBER 29, 2020
Projects likely to create 54,218 jobs; Foxconn, Mylan Lans, First Solar, Ola, among companies setting up units
Tamil Nadu continues to attract companies to invest in the State. On Monday, the State government signed memorandums of understanding (MoUs) for 24 projects worth ₹24,248 crore, foundation stones laid and project inaugurations done. These projects are likely to create 54,218 jobs, the State government said.
At a function presided over by Chief Minister Edapaddi K Palaniswami, the State government signed 18 MoUs with different companies for an investment of ₹19,955 crore, which will create 26,509 jobs. Further, foundation stones were laid and inauguration done of projects that would bring in an investment of ₹4,503 crore with employment generation potential of 27,709 persons.
An MoU was also signed with Foxconn for a mega industrial housing project at Sipcot Vallam Vadagal.
Some of the other MoUs signed today include First Solar of the US setting up a solar module manufacturing facility at an investment of ₹4,185 crore; Voltas to set up a manufacturing plant at Vedal village, Kanchipuram, at an investment of ₹1,001 crore (2,000 jobs), and Ola Electric Mobility to set up an electric two-wheeler manufacturing unit in Hosur at an investment of ₹2,354 crore (2,182 jobs).
Further, Crown Group will establish an Aerospace Cluster Park, in Salem district, for manufacturing of flight components, sub-systems and drones at an investment of ₹2,500 crore (5,000 jobs); US-based Mylan Laboratories will establish an injection manufacturing project in Krishnagiri District at an investment of ₹350 crore, and Gurit India Pvt Ltd will establish a project for manufacture of wind blade components at Sriperumbudur at an investment of ₹320 crore (300 jobs), says a government release.