TN signs eight investment MoUs for Rs 10,339 crore

By Sarkaritel July 20, 2020 12:30

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Chennai, July 20  Tamil Nadu government on Monday signed eight Memorandums of Understanding (MoU) involving an industrial investment of about Rs 10,339 crore.

In a statement issued here, the government said eight MoU has been signed involving an investment of about Rs 10,399 crore with an employment potential for 13,507 persons.

The proposed projects include production of solar cells and modules, air compressors, ductile iron foundry, industrial parks, cashew nut processing, data centre and a foundry expansion project.

Brief details of the proposed investments are:

— Vikram Solar will be investing Rs 5,423 crore in a facility to produce solar cells and modules in Orgadam in Kancheepuram district.

— Hiranandani group’s Yotta to set up a data centre in Chengalpattu district at an investment of Rs 4,000 crore.

— The Coimbatore based Elgi Equipments will investing Rs 250 crore in setting up an air compressor unit.

— Aquasub to invest Rs 200 crore to set up a ductile iron foundry in Coimbatore.

— GI Agro Tech to set up a cashew nut processing unit at Villupuram investing Rs 36 crore.

— JS Auto Cast to expand its foundry facility at Erode district at an outlay of Rs 40 crore.

— Industrial park projects by CGD Satharai Pvt Ltd (outlay Rs 250 crore) at Kancheepuram district and NDR Infrastructure (outlay Rs 200 crore) at Ranipet.

By Sarkaritel July 20, 2020 12:30