News

Tamil Nadu Cabinet approves projects worth over Rs 200 billion

January 2019

The Tamil Nadu Cabinet has reportedly approved 11 projects involving investments worth over Rs 200 billion. Memorandum of Understandings (MoUs) are expected to be signed for the these projects at the Global Investors’ Meet (GIM).

Besides, approval on the proposal to unveil an aeroplane components policy was also initiated.

The recently approved projects are third in line as in the previous Cabinet meeting, approvals for 30 projects worth Rs 500 billion were passed. Nearly 140 MoUs are expected to be signed at the event with a total investment in excess of Rs 2.4 trillion.

In order to separate defence aerospace policy to attract investment from domestic as well as international companies to set up their base in the aerospace park at Sriperumbuder, the policy of aeroplace components was announced.

Besides, the Tamil Nadu Defence Industrial Corridor is expected to be inaugurated soon.