The cabinet gave its nod to projects spanning several sectors, including electronics and food processing. | Photo: PTI
The Tamil Nadu Cabinet on Tuesday gave approval to 15 investment proposals worth a total of Rs 44,125 crore that are expected to generate over 24,700 jobs in the state.
The 16th cabinet meeting chaired by Chief Minister MK Stalin at the secretariat here also gave its nod to three renewable energy policies as part of a target to achieve 20,000 MW power generation by 2030, according to Finance Minister Thangam Thennarasu here.
Emerging from the meeting, Thennarasu said that on August 17, the prime minister would inaugurate a first-of-its-kind industrial housing facility in India for 18,720 Foxconn employees, built at an estimated cost of Rs 706.5 crore at the SIPCOT Vallam Vadagal industrial estate in Sriperumbudur, Kancheepuram district.
The cabinet gave its approval to projects covering several sectors, including electronics, food processing, motor vehicles and battery manufacturing.
A pumped storage policy, a small hydro policy, and a wind energy repowering and life extension policy were also approved for the Department of Energy.
Notably, an investment of Rs 21,340 crore by lithium-ion battery supplier Semcorp in Thoothukudi has been approved to create 1,114 jobs and an investment of Rs 2,500 crore by automotive exterior lighting manufacturer Motherson Electronics in Kanchipuram to create 2,500 jobs, Thennarasu said.
Dairy products maker Milky Mist will invest Rs 1,777 crore in a food processing unit in Erode, while global lithium-ion battery recycling firm LOHUM will produce raw materials for battery manufacturing in Krishnagiri at a cost of Rs 1,597 crore, it added.
In addition, global capacity centers of pharmaceutical giant AstraZeneca and global logistics and shipping giant UPS were also approved.
Industries Minister TRB Rajaa said new sectors were coming to Tamil Nadu for job creation. “Very soon we will hear that the electronics sector is moving to other parts of Tamil Nadu,” he said.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 13, 2024 | 19:14 IS
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