TN Cabinet approves projects worth Rs 52k crore

01 Feb 2021 CW Team

The cabinet also cleared the government鈥檚 new industrial policy, the Tamil Nadu Industrial Policy 2021 according to a state government news release. The government had ended the previous year by signing 74 Memorandums of Understanding (MoUs) projecting an investment of Rs 61,500 crore.

The projects include Tata Electronics鈥� project with an investment of Rs 5,763 crore to manufacture mobile phone components. Planned in Krishnagiri district this project is set to generate over 18,250 jobs. Sun Edison will invest Rs 4,629 crore to produce Solar PV Modules.

Taiwan鈥檚 Luxshare will invest Rs 745 crore to make electronic components and wearables in Sriperumbudur and revive the defunct Motorola factory. Ola Electric will invest Rs 2,354 crore in SIPCOT park at Bargur in Krishnagiri district, to make electric vehicles and batteries. Pegatron Corporation will invest Rs 1,100 crore in Phase-I to make phones in Chengalpattu district.

Japan鈥檚 Daicel Corporation will set up India鈥檚 first airbag inflator manufacturing unit with an investment of Rs 358 crore. Germany鈥檚 Eickhoff Wind will invest Rs 621 crore to manufacture gearboxes for wind energy generators. Lucas TVS will invest Rs 2,500 crore to manufacture lithium-ion batteries.

That apart, other investments include, US-based Autoliv Inc investing Rs 100 crore in passenger safety products, Germany鈥檚 BASF investing Rs 345 crore in auto emission catalysts, Korean company LS Automotive investing Rs 250 crore in automotive switches and data patterns Rs 303.52 crore in defence and aerospace-related products.

Here is the list of the companies, investment and areas of the investments:

颁辞尘辫补苍颈别蝉听	滨苍惫别蝉迟尘别苍迟听	Sector of investment听
Tata Electronics听	Rs 5,763 crore	Manufacturing mobile phone components
Sun Edison	Rs 4,629 crore	Production of Solar PV Modules
Ola Electric	Rs 2,354 crore	Electric vehicles and batteries
Taiwan鈥檚 Luxshare听	Rs 745 crore	Electronic components and wearables
Pegatron Corporation	Rs 1,100 crore	笔丑辞苍别蝉听
Daicel Corporation	Rs 358 crore	Airbag inflator manufacturing听
Eickhoff Wind听	Rs 621 crore听	Manufacture gearboxes for wind energy generators
Lucas TVS	Rs 2,500 crore	Manufacture lithium-ion batteries
US-based Autoliv Inc听	Rs 100 crore听	Manufacture passenger safety products (auto components)
Germany鈥檚 BASF听	Rs 345 crore	Auto emission catalysts
LS Automotive	Rs 250 crore	Manufacture automotive switches
Data Patterns听	Rs 303.52 crore	Defence and aerospace-related products

Also Read: Torrent to invest in TN city gas distribution infra

Also Read:听Adani Group to set up hyperscale data centre in Chennai

听Also Read:听MoUs for projects in TN worth Rs 24,248 cr signed

Tamil Nadu state cabinet approved 34 investment projects last week with a total investment of Rs 52,257 crore and with a potential to create nearly 94,000 jobs. The investment proposals are mostly in sectors like electronics, automobile and auto components including electric vehicles and solar cell manufacturing. The cabinet also cleared the government鈥檚 new industrial policy, the Tamil Nadu Industrial Policy 2021 according to a state government news release. The government had ended the previous year by signing 74 Memorandums of Understanding (MoUs) projecting an investment of Rs 61,500 crore. The projects include Tata Electronics鈥� project with an investment of Rs 5,763 crore to manufacture mobile phone components. Planned in Krishnagiri district this project is set to generate over 18,250 jobs. Sun Edison will invest Rs 4,629 crore to produce Solar PV Modules. Taiwan鈥檚 Luxshare will invest Rs 745 crore to make electronic components and wearables in Sriperumbudur and revive the defunct Motorola factory. Ola Electric will invest Rs 2,354 crore in SIPCOT park at Bargur in Krishnagiri district, to make electric vehicles and batteries. Pegatron Corporation will invest Rs 1,100 crore in Phase-I to make phones in Chengalpattu district. Japan鈥檚 Daicel Corporation will set up India鈥檚 first airbag inflator manufacturing unit with an investment of Rs 358 crore. Germany鈥檚 Eickhoff Wind will invest Rs 621 crore to manufacture gearboxes for wind energy generators. Lucas TVS will invest Rs 2,500 crore to manufacture lithium-ion batteries. That apart, other investments include, US-based Autoliv Inc investing Rs 100 crore in passenger safety products, Germany鈥檚 BASF investing Rs 345 crore in auto emission catalysts, Korean company LS Automotive investing Rs 250 crore in automotive switches and data patterns Rs 303.52 crore in defence and aerospace-related products. Here is the list of the companies, investment and areas of the investments:颁辞尘辫补苍颈别蝉听滨苍惫别蝉迟尘别苍迟听Sector of investment听Tata Electronics听Rs 5,763 croreManufacturing mobile phone componentsSun EdisonRs 4,629 croreProduction of Solar PV ModulesOla ElectricRs 2,354 croreElectric vehicles and batteriesTaiwan鈥檚 Luxshare听Rs 745 croreElectronic components and wearablesPegatron Corporation Rs 1,100 crore 笔丑辞苍别蝉听Daicel CorporationRs 358 croreAirbag inflator manufacturing听Eickhoff Wind听Rs 621 crore听Manufacture gearboxes for wind energy generatorsLucas TVSRs 2,500 croreManufacture lithium-ion batteriesUS-based Autoliv Inc听 Rs 100 crore听Manufacture passenger safety products (auto components)Germany鈥檚 BASF听 Rs 345 croreAuto emission catalystsLS AutomotiveRs 250 croreManufacture automotive switchesData Patterns听 Rs 303.52 croreDefence and aerospace-related productsAlso Read: Torrent to invest in TN city gas distribution infraAlso Read:听Adani Group to set up hyperscale data centre in Chennai听Also Read:听MoUs for projects in TN worth Rs 24,248 cr signed听Image Source

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