TN signs 60 MoUs worth Rs 1,250 bn at investment conclave

06 Jul 2022 CW Team

The Tamil Nadu Government has signed 60 memorandums of understanding (MoUs) to bring in a cumulative investment of Rs 1,250 billion and 74,898 jobs.

At the ‘Tamil Nadu Investors' First Port of Call – Investment’ conclave, 53 facilitation MoUs were signed with an investment of Rs653.30 billion, offering employment opportunities to 58,478 people. The companies that signed the MoUs include Amplus (Petronas)i; Cubic PV and Larsen & Toubro.

In addition, seven MoUs for projects that have been sanctioned with structured packages of incentives were signed with an investment value of Rs 598.71 crore, providing 74,898 jobs. The firms include Lucas TVS, ACME Green Hydrogen and Tata Power.

Chief Minister M K Stalin, at conclave, inaugurated 12 projects with an investment of Rs 14.97 crore employing 7,050 persons. He also laid the foundation stone for 21 companies that brought investment worth Rs 222.52 crore and creating 17,654 jobs.

He also launched the Tamil Nadu Life Sciences Promotion Policy 2022 and Tamil Nadu R&D Policy 2022. To encourage FinTech adoption in the State, the Chief Minister launched the TECXPERIENCE program, a suite of technology services available for free or at a discounted price for a limited period.

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