TN cabinet clears 46 investment projects

Chennai: The state cabinet has cleared financial incentives for 46 expansion and investment projects worth more than 31,500 crore, said industries minister T R B Rajaa.After the cabinet meeting chaired by chief minister M K Stalin on Monday, Rajaa told reports the projects are expected to provide 61,521 jobs across the state, ensuring a balanced regional growth.
New projects include a facility for assembly and maintenance of trainer aircraft components by Sakthi Aircraft Industry, a semiconductor manufacturing unit by NMB-Minebea, and a semiconductor equipment manufacturing unit by Yield Engineering Systems. Incentives have been approved for Dixon Technologies group to expand its electronics manufacturing operations, and SFO Technologies, which will produce electronic components. Vikram Solar's battery energy storage systems (BESS) have been cleared, along with armoured vehicle manufacturing by Minerva, power tools production by Hikoki Power Tools, Festo, a German automation company manufacturing industrial automation equipment, and the Aequs group which will produce aircraft engine and gearbox components. Boeing will set up an advanced aerospace research and development centre, and Saint-Gobain will invest in glass manufacturingSchneider Electric group's cooling and allied systems, Bharat Biotech's life sciences products park, and Caterpillar Inc are some units cleared for financial incentives.