Tamil Nadu cabinet approves Rs 31,592 cr investments for 46 projects; over 61,500 jobs expected
New Delhi, [India] February 24 (ANI): Tamil Nadu state cabinet has approved incentives for 46 new and expansion investment projects across the state, entailing a total committed investment of Rs 31,592.39 crore and generating employment opportunities for 61,521 persons.
According to the official release by the Department of Industries, Investment Promotion & Commerce of the state, the projects will be implemented across multiple districts, including Chennai, Chengalpattu, Kanchipuram, Tiruvallur, Villupuram, Tiruvannamalai, Krishnagiri, Namakkal, Perambalur, Theni, Dindigul, Karur, Tiruppur, Salem, Coimbatore and Thoothukudi.
The approved investments span across diverse high-growth sectors, including aerospace and defence, semiconductors, electronics manufacturing, renewable energy, industrial automation, life sciences, heavy engineering and advanced materials.
Among the major investors are Sakthi Aircraft Industry, which will undertake assembly and maintenance of training aircraft components; NMB-Minebea, which will manufacture semiconductors for various applications; and Yield Engineering Systems, which will establish facilities for semiconductor production equipment.
Electronics manufacturing projects include investments by Dixon Group for electronic devices and SFO Technologies for electronic components manufacturing.
In the renewable energy segment, Vikram Solar will undertake the assembly of Battery Energy Storage Systems (BESS). In defence manufacturing, Minerva Special Purpose Vehicle will establish a facility for manufacturing armoured vehicles.
Industrial equipment and automation projects include investments by Hikoki Power Tools for power tools manufacturing and Festo for industrial automation equipment.
In aerospace components manufacturing, Aequs Group will produce aircraft engine and gearbox components. Schneider Electric Group will expand manufacturing operations, including cooling equipment.
In the life sciences sector, Bharat Biotech Group will establish a life sciences products park.
Heavy engineering and advanced manufacturing investments include projects by Caterpillar Inc. for construction machinery and equipment manufacturing, while Boeing will set up an advanced aerospace research and development centre.
In advanced materials, Saint-Gobain will undertake the manufacturing of glass products.
The State government stated that the projects reinforce Tamil Nadu's position as a leading investment destination in India, with a strong focus on high-technology manufacturing, job creation and balanced regional industrial growth. (ANI)
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