Innovate and Invest: Tamilnadu Gets Industrial Proposals

Tamil Nadu, one of India’s most industrially advanced states, continues to further establish itself as a major destination for global investments through its flagship event, the Global Investors summit, held in Chennai’s trade centre, Nandambakkam, which laid everyone’s eyes on Tamil Nadu and has attracted many local and foreign direct investors.

The state of Tamil Nadu targeted over $1 trillion by the year 2030. Tamilnadu’s Industrial minister, claimed the state has already received promises for investments worth INR 3 lakh CR  with Memorandum of Understanding links with multiple companies and also said that it will create direct and indirect jobs for everyone.

Tamil Nadu has come out with an Electric Vehicle (EV) policy that is aimed at attracting investments worth 50,000 CR INR and generating 1.50 lakh jobs in the fast-growing EV segment for a pollution-free future environment. The Renault-Nissan Automotive India Private limited recently earmarked INR 5,300 CR to support new product launches and projects that will create 2,000 jobs in the state.

Promising Global Investment Proposals 

TATA Power

TATA Power has signed a Memorandum of Understanding with the Government to invest approximately INR 3,000 CR  has set up a 4GW Solar Cell and 4GW Solar Module manufacturing plant in Tirunelveli District of Tamil Nadu could make over 2000 employment opportunities, the majority of which will be held by women will be directly or indirectly created by the plant’s 16-month investment plan says Tamilnadu CEO and Managing director Mr Praveer Sinha.

Adani Group

Gautam Adani, founder of Adani Group, has signed a series of Memorandum of Understanding to invest INR 43,768 CR. In the IT sector, Adani group has set to start an edge connex data centre located in Chennai Siruseri; with an investment of 13,200 crores, this facility is slated to undergo a major expansion to a 200 MW capacity, making it one of FDI in India‘s key locations for investments in digital infrastructure.  In addition Ambuja Cements are preparing to extend its capacity to 14 million metric tonnes, which will include setting up three factories in Madukkarai, Kattupalli, and Tuticorin. They have previously spent ₹550 crore for an annual capacity of 1 million tonnes. This expansion is anticipated to create over 5,000 direct and indirect jobs, and moreover Adani Total Gas provides local gas distribution, liquefied natural gas for trucks and mining, and electric vehicles to meet the needs of the Cuddalore and Tirupur districts, and they also laid underground gas line pipes serving over 5,000 homes.

Sembcorp Green Hydrogen

To reduce carbon emissions, enhance energy security and stimulate state economic growth, Sembcorp Industries’ green hydrogen plant has the potential to alter Tamil Nadu significantly. The goal of this project is to use renewable power sources, such as solar and wind power, to electrolyze water and produce hydrogen. With Sembcorp’s green hydrogen effort, Tamil Nadu is at the leading edge of the global trend towards sustainable energy alternatives. With an INR 36,238 CR foreign direct investment proposed. Sembcorp intends to build a green hydrogen factory in the Thoothukudi district, resulting in the employment of 1,511 people.

Leap Green Energy Private Limited

Additionally, Leap Green Energy Private Limited suggested spending Rs 22,842 crore in the state. The company announced that a total of INR 17,400 crores and Rs 5,442 crores, respectively, will be spent in Tiruvannamalai and Thoothukudi district to develop integrated green hydrogen power storage plants. In all, 3,925 jobs are anticipated to be created by this.

Chennai Petroleum Corporation Limited 

A Memorandum of Understanding worth  INR 17,000 CR was signed by Chennai Petroleum Corporation Limited. A deal was struck during the Tamil Nadu Global Investors Meet 2024 for an extra investment in Cauvery Basin Refinery and Petrochemicals Limited, Nagapattinam, valued at INR 17,000 CR. compared to the earlier commitment. 2400 jobs are anticipated to be created by this.

Hitachi 

Hitachi is to open a research and development centre in chennai Porur with an investment of INR 100 CR. It is also called the most extensive Global Technology and Innovation hub in Chennai; over 30,000 square feet, the Center includes roughly 50,000 square feet of area dedicated to laboratory operations and creates 1,500 jobs.

Saint Gobain

Saint Gobain, a French glass-making company, signed a Memorandum of Understanding to invest INR 3,400 CR to expand current Kancheepuram plants and build new ones in the area, with a planned expenditure, resulting in the creation of 1,140 jobs.

Hong Fu Industrial Group

The Taiwanese company Hong Fu Industrial Group has inked a Memorandum of Understanding to spend ₹1,000 crore on the establishment of a footwear manufacturing facility in Tamil Nadu. The aim is to employ about 20,000 people during the next three to five years. 

Anand Group

With the Investment of INR 900 CR Anand Group has signed a Memorandum of Understanding at the Tamilnadu Global Investors Summit, establishing the production of cutting-edge technology goods in the state for both ICE and electric cars in which it will create 20,000 Jobs directly or indirectly.

The Tamil Nadu Global Investment Summit has committed investments across various Industries with the signed Memorandum of Understanding of 631, Number of investments Committed INR 6,64,128 CR and 26,90,657 promising job offers. There are many more companies investing in. The major aim is to create job opportunities, economic growth and overall state development.

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