Tamil Nadu Cabinet Clears Rs 44,125 Crore Investment Proposals, Set To Create Over 24,700 Jobs
The cabinet approved projects spanning various sectors, including electronics, food processing, motor vehicles, and battery manufacturing.
The Tamil Nadu Cabinet, led by Chief Minister M K Stalin on Tuesday, approved 15 investment proposals totaling Rs 44,125 crore, which are expected to create over 24,700 jobs across the state. During the 16th cabinet meeting, chaired at the secretariat, the cabinet also approved three renewable energy policies aimed at achieving 20,000 MW power generation by 2030, according to Finance Minister Thangam Thennarasu.
The cabinet approved projects spanning various sectors, including electronics, food processing, motor vehicles, and battery manufacturing.
A pump storage policy, a small hydel policy and a wind repowering and life extension policy for the energy department were also approved.
Thennarasu announced that on Aug. 17, the Chief Minister will inaugurate India’s first industrial housing facility for 18,720 Foxconn employees at SIPCOT Vallam Vadagal industrial estate in Sriperumbudur, Kancheepuram district. The facility, costing Rs 706.5 crore, marks a significant milestone.
Notable approvals include a Rs 21,340 crore investment by lithium-ion battery supplier Semcorp in Thoothukudi, creating 1,114 jobs, and a Rs 2,500 crore investment by Motherson Electronics in Kanchipuram, creating 2,500 jobs. Dairy products maker Milky Mist will invest Rs 1,777 crore in a food processing unit in Erode, and LOHUM will invest Rs 1,597 crore in Krishnagiri for battery manufacturing raw materials.
Additionally, global capability centres for pharmaceutical giant AstraZeneca and logistics leader UPS received approval. Industries Minister TRB Rajaa emphasised the state's commitment to bringing new sectors to Tamil Nadu, with the electronics industry expected to expand to other regions soon.
(With inputs from PTI)
