TN sees Rs 32,500cr investments at first regional investment conclave

TUTICORIN: Big-ticket investments to the tune of Rs 32,554 crore were signed at Tamil Nadu’s first regional investment conclave, TN Rising, at Tuticorin on Monday. The 41 MoUs were in multiple sectors including electronics, defence, ship building and non-leather footwear. The investments would be spread across the state with a sizable volume in the southern districts.

Tuticorin topped in investments with Sakthi Group promising Rs 5,000 crore for ammunition and propellant manufacturing and April Fiber Resource (RGE) Rs 4,953 crore for a man-made fibre unit. Yeemak & Jeanuvs will invest Rs 3,400 crore to make advanced electronics and defence components, and Kaynes Circuits India Rs 4,995 crore to manufacture advanced electronic components in Tuticorin and other districts. Radha Engineering Works will invest Rs 1,500 crore in ship, allied vessels, tug component manufacturing in Tuticorin.

Mobius Energy will invest Rs 1,000 crore in solar cell and module manufacturing in Theni district. Prathiksha Green Fuels will put in Rs 1,500 crore for bio-methanol and bio-char manufacturing

Hwaseung Enterprise will invest Rs 1,720 crore in the non-leather footwear sector. Hyundai Kefico India has allotted Rs 720 crore to make auto electronic control units in Kancheepuram district. Michelin Tyres is investing Rs 686 crore in Tiruvallur.

The MoUs were signed in the presence of chief minister M K Stalin, who said Tuticorin is attracting investments as its port is the gateway for vessels from Southeast Asia. Stalin announced four special projects for the development of Tuticorin and Tirunelveli region including a 250-acre space park in Tuticorin and an entity to focus on developing the ship building sector. “Tamil Nadu offers the talent pool required by various sectors,” he said.

Earlier, industries minister T R B Rajaa said, Tamil Nadu is the only state with proper social and industrial infrastructure. “No other state comes close to what Tamil Nadu has achieved today. This is just the beginning of a new era, and we are starting from the southern districts,” he said.