In a bid to boost to Tamil Nadu’s industrial and economic landscape, the State Cabinet, chaired by Chief Minister M.K. Stalin, has approved investment proposals worth ₹44,125 crore. These investments, spanning across sectors such as automobiles, electronics, food processing, renewable energy, and battery manufacturing, are expected to generate employment for over 24,000 people.
The Cabinet’s decision comes as part of the government’s ongoing efforts to attract substantial investments into the state, further solidifying Tamil Nadu’s position as a leading industrial hub in India.
Major Investments and Employment Generation:
- Sembcorp will invest ₹21,340 crore in Thoothukudi district, generating employment for over 1,100 people.
- Motherson will contribute ₹2,600 crore to Kancheepuram district, creating job opportunities for more than 2,500 people.
- Milky Mist will invest ₹1,777 crore in Erode district.
- Lohum Tech will invest ₹1,597 crore in Krishnagiri district, focusing on lithium battery recycling.
Finance Minister Thangam Thennarasu and Industries Minister T.R.B. Rajaa provided details of these projects at a press conference held at the Secretariat.
Energy Policies and Renewable Initiatives: The Cabinet also approved three significant policies for the Energy Department, focusing on pumped storage projects, small hydel projects, and wind repowering, refurbishment, and life extension. These initiatives aim to promote renewable energy, with a particular emphasis on achieving the state’s ambitious target of installing 20,000 MWe of solar power capacity by 2030.
The policy for small hydel projects is expected to stimulate employment in the renewable energy sector, while the wind energy policy aims to boost production by 25% through repowering and refurbishing existing wind plants.
Global Capability Centres and Worker Welfare: The Cabinet approved the expansion of Global Capability Centres for UPS and AstraZeneca. Additionally, Chief Minister M.K. Stalin is set to inaugurate a new housing facility for Foxconn workers in Sriperumbudur, Kancheepuram district. Constructed at a cost of ₹706.5 crore, the facility offers over 18,720 beds, providing much-needed accommodation for the workforce.
Regarding Chief Minister M.K. Stalin’s upcoming visit to the United States, Ministers indicated that the Chief Minister’s office would release details in the coming days.
This wave of investments and the introduction of progressive policies underscore Tamil Nadu’s commitment to fostering industrial growth, employment generation, and sustainable development.
