The Tamil Nadu Cabinet recently approved 15 investment proposals worth a total of Rs 44,125 crore, which are expected to create over 24,700 jobs in the state. This decision was made during the 16th cabinet meeting chaired by Chief Minister M K Stalin. The approval also included three renewable energy policies aimed at achieving 20,000 MW power generation by 2030.
Finance Minister Thangam Thennarasu announced that the chief minister would be inaugurating an industrial housing facility for 18,720 employees of Foxconn on August 17. This facility is the first of its kind in India and is located at SIPCOT Vallam Vadagal industrial estate in Sriperumbudur, Kancheepuram district.
The approved projects cover various sectors such as electronics, food processing, motor vehicles, and battery manufacturing. Additionally, policies related to pump storage, small hydel, and wind repowering were also given the green light.
Some of the major investments include Rs 21,340 crore by Semcorp in Thoothukudi to create 1,114 jobs, and Rs 2,500 crore by Motherson Electronics in Kanchipuram to create 2,500 jobs. Milky Mist will invest Rs 1,777 crore in a food processing unit in Erode, while LOHUM will invest Rs 1,597 crore in battery manufacturing in Krishnagiri.
Furthermore, global companies like AstraZeneca and UPS have also received approval to set up their capability centers in Tamil Nadu. Industries Minister TRB Rajaa highlighted the focus on bringing newer sectors to the state for job creation, with plans to expand the electronics sector to other parts of Tamil Nadu soon.
This move by the Tamil Nadu government signifies a significant boost to the state’s economy and job market. The approval of these projects and policies is expected to create a favorable environment for investment and development across various sectors. With a strong focus on renewable energy and job creation, Tamil Nadu is poised for growth and progress in the coming years.
