TN inks deals over Rs 15k cr to create over 47k jobs

TN inks deals for over Rs 15,100 crore investment, to create 47,000 plus jobs

Representative image. (Credit: iStock)

The Tamil Nadu government on Wednesday said it has inked pacts with 17 companies for bringing in fresh investments of over Rs 15,100 crore that will create job opportunities for about 47,150 people in the State.

The investments, to the tune of Rs 15,128 crore will be in diverse sectors including manufacturing of commercial vehicles and energy, the government said adding nine pacts were signed at the Secretariat in the presence of Chief Minister K Palaniswami and eight other companies firmed up the deals via a virtual link.

Finland-based Salcomp will invest Rs 1,300 crore for an expansion project that is set to provide jobs for 10,000 people, the government said in an official release.

Salcomp, which had last year entered into a Memorandum of Understanding with the government at the Global Investors Meet for Rs 500 crore investment, has gone in for an expansion within a year in view of the conducive environment for industrial growth, it added.

The Finnish firm, a leading manufacturer of components like chargers had acquired Nokia's mobile manufacturing facility at Sriperumbudur near here that was closed down.

Chennai Power Generation Limited, a Indo-UK joint initiative will invest Rs 3,000 crore for a 750 MW natural gas based power plant at Tiruvallur district's Ponneri near here opening up job opportunities to 3,000 people.

Japanese firm Polymatech Electronics shall infuse Rs 900 crore for a semiconductor chip manufacturing project in the SIPCOT (State Industries Promotion Corporation of Tamil Nadu) Industrial Park at Oragadam near here and the move would create 600 jobs, the government said.

Daimler India Commercial Vehicles will embark on a Rs 2,277 crore expansion project in the SIPCOT Park and it will provide jobs for 400 people.

A Chung Jye Company Limited and Aston Shoes Private Limited joint venture initiative to manufacture shoe/sandals at Rs 350 crore investment is set to see 25,000 people get jobs, the government said.

Get a round-up of the day's top stories in your inbox

Check out all newsletters

Get a round-up of the day's top stories in your inbox