Tamil Nadu CM Stalin inaugurates, lays foundation stone of projects worth Rs 70,000 crore

Chennai: Tamil Nadu Chief Minister M K Stalin on Wednesday inaugurated 19 new projects and laid the foundation stone for 28 projects across sectors worth Rs 70,000 crore that will provide job opportunities to about one lakh people as the state government successfully realised the Memorandum of Understandings (MoU) into actual investments.

At the event, which was attended by industry titans, Stalin made a passionate appeal to businessmen who have invested in the state, to turn into “industrial ambassadors” of the government by convincing companies who don’t have presence to invest in Tamil Nadu.

The Chief Minister said that Wednesday’s event was a proof that the state makes concerted efforts to realise MoUs into actual investments and doesn’t believe in switching to hibernation mode after signing pacts with companies.

Manufacturing facilities of Japan’s Omron Healthcare, which built its factory in just about a year after making a commitment to the state, Motherson Electronics, L&T Innovation Campus, Sundaram Fasteners, Royal Enfield, and Milky Mist are some of the projects that were inaugurated by Stalin.

A green hydrogen and green ammonia unit by Singapore’s Sembcorp Industries in Thoothukudi at a cost of Rs 36, 200 crores are the single largest investment for which the foundation stone was laid by the Chief Minister.

He also broke the ground for 27 other projects including massive facilities by glass maker Saint Gobain, Maple Tree, Ramatex, Tata Communications, and Schwing Stetter, among others.

Stalin also laid the foundation stone for a common engineering facility centre called Tamil Nadu Engineering and Innovation Center (TN ENGINE), a collaboration between the Tamil Nadu Industrial Development Corporation (TIDCO) and Tata Technologies. This center will come up at the Anna University campus in Coimbatore.

In his speech, Stalin highlighted the efforts being taken by his government to ensure “distributed and equitable” growth across the state and flaunted that 631 MoUs worth Rs 6.64 lakh crore were signed during the third edition of the Global Investors’ Meet in January 2024.

“These investments will result in direct jobs for 14 lakh people and indirect jobs for 12 lakh people. Since we came to power in May 2021, our dispensation has attracted investment pledges worth Rs 9.74 lakh crore and direct and indirect jobs for 31 lakh people,” Stalin said.

The Chief Minister insisted that his government doesn’t stop with signing MoUs but instead takes every effort to provide necessary support to companies to invest in the state.

He said that a committee has been constituted to monitor the progress of the MoUs and identified “maintenance of good law and order” as one of the reasons for investors to flock to Tamil Nadu as they believe they have put their money in a “peaceful state”.

“I have a request to businessmen present here. You should turn into industrial ambassadors of Tamil Nadu by asking more people to invest in the state. Our government is focusing on development of women and development of all sectors,” Stalin said, adding that women play a crucial role in the state’s industrial growth.

The Chief Minister, whose government has launched several skill development programs, also exhorted the industry to make “good use” of the skills that the youth of Tamil Nadu possess.

“The presence of 130 Fortune 500 companies in Tamil Nadu is a testament to the investment climate in the state,” he added.

B Santhanam, CEO, Saint-Gobain Asia Pacific and India Region, made lavish praises about the Tamil Nadu government and the facilities that the state offers to investors. From a mere 525 crore investment 20 years ago, Saint Gobain has invested “10 X” of the amount in Tamil Nadu, Santhanam said, adding that 60 per cent of the company’s total investments in India have been made in the state.

“Five factors bring investors to Tamil Nadu and make them stay here. They are the people, productivity, process, partnership, and performance. The government treats you as a partner in the state’s growth,” he added.

Industries Minister T R B Raaja said that Tamil Nadu is the first state to roll out a green hydrogen project and harped on the “speed” at which the government machinery works to ground industrial projects.