Chennai: In the first encouragement of industrial expansion after ruling, the DMK government led by Minister M K Stalin will begin his focus on attracting industrial investment to the country by signing 47 agreements that examine the investment of Rs 28,664 Crore.
General Electric (GE) will sign the MoU with the TN government on Tuesday to establish a center of excellence in aerospace, it is seen as a sunrise sector in the state to attract investment due to its proximity to the engineering industry, in relation to the state’s tidco.
The MoU will be signed before Stalin.
Another MoU will be signed with Taiwan’s Lotus footwear.
“The country has been looking to attract a well-established large brand to market the potential to attract investment in the defense and aerospace sectors.
GE investment is an important development on the front,” said senior officials of the State Government toi.
The state government has guided many new investment projects, in addition to placing foundation stones and started commercial production of established industrial units.
Altogether, 47 projects with a combined investment of more than RS 28.664 Crore and gave work to 82,400 people have lined up for Stalin’s involvement on Tuesday, Industrial Minister Thangam Thananarasu tweeted.
Lotus Taiwan’s footwear produces sports and athletic shoes at the Cheyyar Sez facility.
“Lotus, a large ticket employer, will build a new footwear unit near the Tindivanam in the Villupuram district.
This will be the first big project in this district.
Lotus will also expand its production facilities in the bargur,” the official said.
The focus on Villupuram Regency is in line with the encouragement of the country to facilitate the new industry in retarded districts from Villupuram, Kalakurichi, Cuddalore and Tiruvannamalai in North TN.
Moving Sipcot to build industrial plantations in Chayyar and Tindivanam also to help achieve it.
“The new mouse to be signed will include making data centers and manufacturing units for automatic components and cryogenic tankers.
In addition, the foundation stone will be placed for new oxygen plants by INOX in Hosur,” added the official.