From a huge target to creating over 80,000 jobs: It's MK Stalin's massive investment drive in TN!

In what has become Chief Minister MK Stalin's major investment drive, the Tamil Nadu government has on Tuesday entered into a Memorandum of Understanding (MoU) and signed a slew of new projects with several companies at an investment conclave that was held in Chennai. The drive is expected to create over 82,000 new jobs in Tamil Nadu and would attract an investment of around Rs 17,000 crore. 

It has become the first pipeline for industrial investments in the state since MK Stalin had become the Chief Minister of Tamil Nadu. According to reports, Stalin has laid the foundation stone for nine industrial projects worth Rs 4,250 crore to create 21,630 jobs and inaugurated some of the key projects during the conclave that was attended by Tamil Nadu Industries Minister Thangam Thennarasu and several businessmen and industrial bodies. The investment drive has concentrated on key economical sectors from renewable energy to information technology. 

Some of the major investment deals include - JSW Renew Energy Two Limited for Rs 3,000 crore which will create 600 jobs at Thoothukudi, Tirunelveli, Dindigul, and Tirupur, German firm ZF Wabco for Rs 1,800 crore which will create 5000 jobs at Sipcot Oragadam, Singapore firm Capita Land for Rs 1,200 crore which will create 100 jobs in Ambattur, Srivaru Motors for Rs 1,000 crore which will create 4,500 jobs in Coimbatore. 

The government has also signed a deal with the TCS for phase 3 for Rs 900 crore, creating 15,000 jobs at Sipcot IT park Siruseri. Speaking to IANS, state Industries Minister Thangam Thennarasu said, "We are on a massive investment drive for Tamil Nadu. Many industrial majors have shown interest in the state and we are expecting huge investments in the state with around 82,400 jobs being provided." 

The senior officials of the Industries Department said that 35 projects would commence in various parts of the state. The conclave was titled 'Muthaleetalargalin Mudhal Mugavari - Tamil Nadu' (The first address of the investors - Tamil Nadu). The JSW Energy has signed a Rs 3,000 crore investment agreement with the state government for setting up windmills at Thoothukudi, Tirunelveli, and Tirupur. IT giant TCS will establish a company with an investment of Rs 900 crore whereas Singapore's Capita Land will be investing Rs 1,200 crore for setting up a data centre at Ambattur in the outskirts of Chennai. 

Speaking at the conclave, MK Stalin has set an ambitious target for the state to be a $1 trillion GDP economy by 2030. He also unveiled a target to create 46 lakh new jobs by 2030. The Chief Minister said, "We want Tamil Nadu to be one of the best states in South Asia. Our government's target is to make Tamil Nadu a $1 trillion economy (by 2030)." He added, "We want to ensure that there is a conducive business environment in the state."