Chennai: In the first major investment conclave of the newly elected government in Tamil Nadu, the state exchanged memoranda of understanding with 97 companies for investments totalling Rs 67,000 crore, according to the government. This includes 56 greenfield projects.The projects are spread across areas where Tamil Nadu has an existing ecosystem, such as electronics, electric vehicles, automobiles, data centres, aerospace, wind and textiles, while attracting fresh investments in space-tech, quantum, life sciences and R&D. The largest commitments came from the data centre sector, at Rs 26,417 crore. Automotive sector commitments stood at Rs 17,073 crore, renewables at Rs 15,787 crore and engineering at Rs 9,525 crore. Foreign direct investment commitments stood at Rs 22,268 crore from countries such as Australia, Germany, Japan, France, Singapore and South Korea. The projects are spread across more than 20 districts and are expected to create over one lakh jobs.Chief Minister C Joseph Vijay on Thursday headed the Vetri Tamil Nadu investment conclave, showcasing the government’s intent to facilitate industry, with companies signing MoUs to set up new facilities or expand their operations, while a few companies inaugurated their facilities.The MoUs include Skyroot Aerospace, which recently became the first private player to launch rockets into orbit. The startup will invest Rs 250 crore in its facility in Thoothukudi. TOI wrote about the development on August 9. Agnikul committed Rs 400 crore for its launch vehicle assembly and integration facility in Thoothukudi, showing the momentum building around the ISRO launchpad in Kulasekarapattinam.Lighthouse Green Data Centre has committed an investment of Rs 10,000 crore to set up a hyperscale data centre in Thoothukudi, marking the single largest investment at the event, while Airtel’s Nxtra will invest Rs 1,417 crore to expand its Chennai campus and set up an edge data centre in Trichy.Ultraviolette Automotive signed an MoU for Rs 779 crore to set up an electric motorcycle plant in Krishnagiri. Lucas TVS committed Rs 2,500 crore for EV and automotive component facilities. Supermicro, the US-based AI server maker, signed an MoU for its first India facility, with an investment of Rs 477 crore in Chennai for AI server manufacturing. Avalon Technologies committed Rs 1,000 crore for electronic components in Kanchipuram.Daimler will invest Rs 4,000 crore in BharatBenz product development and manufacturing. JK Tyre committed Rs 5,143 crore for tyre manufacturing in Kanchipuram, while Titan signed an MoU for Rs 1,000 crore for premium watches and electronics automation in Hosur.Saint-Gobain of France signed MoUs for Rs 2,000 crore across a new Krishnagiri unit and an expansion in Kanchipuram. Hinduja Group committed Rs 2,500 crore for solar, wind, battery and mobility solutions.YKK of Japan, the world’s largest zipper manufacturer, committed Rs 1,651 crore. With the potential to create 4,316 jobs in Thiruvallur, it is among the major job-creating MoUs of the day. Phoenix Kothari Footwear signed an MoU for Rs 1,000 crore in Ramanathapuram, the district’s first major industrial investment.The conclave also saw a lot of fresh investment in the textile sector, with MAS India of Sri Lanka signing an MoU for Rs 880 crore for apparel, textiles and wearable technology manufacturing across multiple districts, creating 7,000 jobs. Pallava Group committed Rs 1,000 crore for man-made fibres, while RB Wovens signed an MoU for Rs 675 crore for home textiles, both in the upcoming PM-MITRA textile park in Virudhunagar. Sberbank, Russia’s largest bank, signed an MoU with the Tamil Nadu government, though it was not immediately clear what the agreement entails.According to the government, cumulative commitments in the first 100 days have crossed Rs 1 lakh crore. State industries minister S Keerthana said the government has set a 21-day deadline for issuing approvals, licences and NOCs, and the move is intended to speed up investments and improve the ease of doing business in Tamil Nadu.
