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TN signs MoUs with 59 companies, investments of 35,208 Crores in the offing

- November 23, 2021

Chennai, Nov 23 (BPNS)

Tamil Nadu government signed a Memorandum of Understandings (MoU) with 59 companies leading to an attraction of investments worth 35,208 crores. The MoUs were signed during an investor meet at Coimbatore.

Chief Minister of Tamil Nadu, M.K. Stalin presided in the function held at Coimbatore.

MoUs were signed with seven companies in the field of aerospace and defense system manufacturing and an investment of Rs 485 crore is expected to be generated through this.

Chief Minister, Stalin said that the MoUs are an indication that Tamil Nadu is on the right path in becoming a trillion-dollar economy.

He said that despite the challenges of Covid and natural challenges like rain and its related issues, it was a great moment for Tamil Nadu getting huge investments.

Chief Minister also said that this was the third industrial conference in five months and is a sign of government’s efforts to promote industrial investment and growth. He also laid the foundation for 13 projects worth Rs 13,413 crore.

Stalin also launched commercial production in ten projects worth Rs 3928 crore. Tamil Nadu government officials said that 92, 420 people would get employment through these projects.

Tamil Nadu Chief Minister said that the government is aiming to make the state the Fintech capital of the country and released a Fintech policy 2021.  He said that a Fintech city would be formed at 10 lakh square feet.

Stalin also released a handbook on aerospace and defense systems. He also launched an upgraded single window system mobile app during the function.

The Tamil Nadu Chief Minister also said that he was working for the formation of Neo–Tidal parks.