Tamil Nadu approves Rs 44,125 cr investment proposals; to create 24,000 jobs

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CHENNAI, Tamil Nadu: Chief Minister M.K. Stalin of Tamil Nadu led a state cabinet meeting to approve investment proposals totaling Rs 44,125 crore. These proposals, from 15 companies, are projected to create over 24,000 jobs in the state.

The Tamil Nadu Cabinet approved investment proposals across various sectors, including automobiles, electronics, food processing, renewable energy, and battery manufacturing. Thangam Thennarasu, the Minister of Finance, and T.R.B. Rajaa, the Minister of Industries, provided details about the projects to reporters at the Secretariat.

Sembcorp plans to invest Rs 21,340 crore in Thoothukudi district, which will create over 1,100 jobs. Motherson will invest Rs 2,600 crore in Kancheepuram district, generating employment for more than 2,500 people. Moreover, Milky Mist is set to invest Rs 1,777 crore in Erode district, and Lohum Tech will invest Rs 1,597 crore in Krishnagiri district for lithium battery recycling initiatives.

The state cabinet also approved three policies for the energy department- small hydel project, pumped storage projects, and wind repowering and refurbishment and life extension.

The policy for small hydel projects aims to boost employment in the renewable energy sector. Meanwhile, the wind energy policy aims to enhance production by 25 per cent by tackling issues through repowering, refurbishing, and extending the operational life of existing wind farms.

M K Stalin is also scheduled to inaugurate a housing facility for Foxcom workers. The facility with over 18,720 beds has been constructed for Rs 706.5 crore at SIPCOT Vallam Vadagal in Sriperumbudur in Kancheepuram district.