Chennai: During a Cabinet meeting led by Chief Minister M K Stalin, Finance Minister Thangam Thennarasu announced the approval of 14 investment proposals from different companies, totaling Rs 38,698.80 crore. Approximately 46,931 new jobs are expected to be created as a result of the new investments, the Minister stated following their attendance at the cabinet meeting held at the secretariat. The investment offers cover a range of industries such as automobiles, electric vehicles, electronics, green energy, telecom equipment, and advanced manufacturing. There are plans for new projects to be developed in 12 districts. A Tata Motors manufacturing facility for cars and sports utility vehicles in Ranipet district, costing Rs 9,000 crore, may create 5,000 new jobs.
Foxconn, also known as Hon Hai Technology Group, plans to invest Rs 13,180 crore through its group company to create a manufacturing facility for electronic components in Kancheepuram, which will result in the creation of 14,000 jobs. Leaf Green Energy Pvt Ltd plans to invest Rs 10,375 crore in establishing a green hydrogen unit in Tirunelveli district, which is expected to generate 3,000 jobs locally. King Shoes, a company from Taiwan, plans to invest Rs 1,000 crore to establish a non-leather shoe manufacturing plant in Ariyalur district, creating employment opportunities for 15,000 people.
When speaking to journalists, Thennarasu mentioned that upcoming projects will mainly be focused in southern districts such as Tuticorin, Virudhunagar, Tirunelveli, Ramanathapuram, and also in Krishnagiri, Chengalpattu and Ranipet, among others. He said the incentives given to these companies are determined by the suggestions of the interdepartmental committee in response to a question. TRB Rajaa, the Minister of Industries, stated on social media that investments in Tamil Nadu are resulting in the creation of high-quality jobs and industrial production. "A significant number of these positions offer high salaries for engineers," Rajaa remarked.
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