Southern Indian state Tamil Nadu secures another INR 5100 investments, SAF to set up aluminium auto parts production facility
On 23rd July’20, the State Government of Tamil Nadu signed 16 MoUs apprehending fresh investments worth more than INR 5100 crore. As per the Govt, it will support to deliver over 6500 jobs.
In two months the Govt has signed MoUs valued for INR 30,664 crore investment which is visualized to create 67,200 new jobs to the state.
MoUs for INR 10,399 crore was signed with eight firms on 20th July’20 which is set to bring jobs to 13,507 people.
On 27th May’20, agreements were signed with 17 companies for investments to the tune of INR 15,128 crore with a potential to provide employment opportunities to 47,150 people.
Now on 23rd July’20, MoUs were signed for INR 5,137 crore more investments for 16 new initiatives that would deliver 6,555 new jobs.
As per the official release, Super Auto Forge (SAF) would set up a forged aluminium parts manufacturing facility at an investment of INR 500 crore at SIPCOT Vadakal industrial park in Kancheepuram district and it would bring new jobs to 800 people.
American entity Visteon would expand its manufacturing capacity at Maraimalai Nagar in Chengelpet district by investing INR 100 crore.
In the presence of Chief Minister of Tamil Nadu K Palaniswami at the Secretariat, 16 Memorandums of Understanding were signed, while 10 MoUs were signed through a virtual link, the remainder were inked in person, the government said.
The Chief Minister also launched a new portal "http://www.investingintamilnadu.com for the government's investment promotion agency.
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