Spread across IT, manufacturing, R&D and other sectors, investments by companies in Coimbatore include Makino, a Japan based OEM at a cost of Rs. 125 crore and L&T with a whopping investment of Rs. 1500 crore for setting up an IT park with an employment potential of 6500.
Coimbatore: At Tamil Nadu Investors' First Port of Call - Investment Conclave, 53 facilitation MoUs were signed in the presence of Chief Minister, M.K Stalin, with an investment of Rs65,373 crore, expected to fetch employment opportunities to 58,478 people.
On July 5, the TN Governmentsigned 60 new MoUs to bring in a cumulative investment worth Rs. 1.25 lakh crore, estimated togenerate 74,898 new job opportunities.
As part of the event, the CM also inaugurated 12 projects with an investment of Rs. 1,497 crore that could generate 7,050 persons and laid foundation stone for 21 companies with investment worth Rs.22,252 crore, fetching 17,654 jobs.
Thangam Thenarasu, Industries Minister, Industries Secretary S.Krishnan, T.K Balaji, Chairman, Lucas TVS and were present during the signing of MOU at the TN-Investor’s First Port of Call Investment Conclave-July 2022 in Chennai.
Launching the Tamil Nadu Life Sciences Promotion Policy 2022 and Tamil Nadu R&D Policy 2022, CM M.K.Stalin reiterated the
State's major goals including the$1 trillion economy; to position as the best investment destination in South Asia;`Made in Tamil Nadu’ products made available worldwide and bring investment in all the districts for inclusive growth.
In the last one year, the State had attracted investment worth ₹2.20 lakh crore (from 192 MoUs signed), according to State government data.
Spread across IT, manufacturing, R&D and other sectors, investments by companies in Coimbatore include Makino, a Japan based OEM which will be setting up a Precision Automation Systems manufacturing unit at a cost of Rs. 125 crore and L&T with a whopping investment of Rs. 1500 crore for setting up an IT park with an employment potential of 6500.
While, VVDN Technologies will be setting up a Hardware manufacturing plant in Pollachi with a employment potential of 5000 plus women at a cost of around Rs. 350 crore.
The other players include Mahindra & Mahindra, Tech Mahindra, JS Auto Cast, Rathinam Tech Zone, Garuda Aerospace and ELGI Sauer.
List of investments:
1. L&T will be investing Rs.1500 crore for setting up an IT park with an employment potential of 6500+
2. Makino, a Japan based OEM will be setting up a Precision Automation Systems manufacturing unit at a cost of Rs. 125 crore.
3. Mahindra & Mahindra will be setting up R&D centers and track testing facilities in Coimbatore + 2 districts at a cost of Rs 500 crore.
4. Tech Mahindra has established an IT/ITES facility with a employment potential of 1600 people.
5. JS Auto Cast will set up a casting unit.
6. Rathinam Tech Zone has set up an IT facility at an investment of Rs. 150 crore as part of its phase 2 expansion plan.
7. Garuda Aerospace will be setting up a drone manufacturing facility at a cost of Rs. 23 crore.
8. VVDN Technologies will be setting up a Hardware manufacturing plant in Pollachi with a employment potential of 5000+ women at a cost of Rs. 350 crore (approx)
9. ELGI Sauer will be establishing a naval pump manufacturing facility at a cost of Rs.50 crore.
On July 5, the TN Governmentsigned 60 new MoUs to bring in a cumulative investment worth Rs. 1.25 lakh crore, estimated togenerate 74,898 new job opportunities.
As part of the event, the CM also inaugurated 12 projects with an investment of Rs. 1,497 crore that could generate 7,050 persons and laid foundation stone for 21 companies with investment worth Rs.22,252 crore, fetching 17,654 jobs.
Thangam Thenarasu, Industries Minister, Industries Secretary S.Krishnan, T.K Balaji, Chairman, Lucas TVS and were present during the signing of MOU at the TN-Investor’s First Port of Call Investment Conclave-July 2022 in Chennai.
Launching the Tamil Nadu Life Sciences Promotion Policy 2022 and Tamil Nadu R&D Policy 2022, CM M.K.Stalin reiterated the
State's major goals including the$1 trillion economy; to position as the best investment destination in South Asia;`Made in Tamil Nadu’ products made available worldwide and bring investment in all the districts for inclusive growth.
In the last one year, the State had attracted investment worth ₹2.20 lakh crore (from 192 MoUs signed), according to State government data.
Spread across IT, manufacturing, R&D and other sectors, investments by companies in Coimbatore include Makino, a Japan based OEM which will be setting up a Precision Automation Systems manufacturing unit at a cost of Rs. 125 crore and L&T with a whopping investment of Rs. 1500 crore for setting up an IT park with an employment potential of 6500.
While, VVDN Technologies will be setting up a Hardware manufacturing plant in Pollachi with a employment potential of 5000 plus women at a cost of around Rs. 350 crore.
The other players include Mahindra & Mahindra, Tech Mahindra, JS Auto Cast, Rathinam Tech Zone, Garuda Aerospace and ELGI Sauer.
List of investments:
1. L&T will be investing Rs.1500 crore for setting up an IT park with an employment potential of 6500+
2. Makino, a Japan based OEM will be setting up a Precision Automation Systems manufacturing unit at a cost of Rs. 125 crore.
3. Mahindra & Mahindra will be setting up R&D centers and track testing facilities in Coimbatore + 2 districts at a cost of Rs 500 crore.
4. Tech Mahindra has established an IT/ITES facility with a employment potential of 1600 people.
5. JS Auto Cast will set up a casting unit.
6. Rathinam Tech Zone has set up an IT facility at an investment of Rs. 150 crore as part of its phase 2 expansion plan.
7. Garuda Aerospace will be setting up a drone manufacturing facility at a cost of Rs. 23 crore.
8. VVDN Technologies will be setting up a Hardware manufacturing plant in Pollachi with a employment potential of 5000+ women at a cost of Rs. 350 crore (approx)
9. ELGI Sauer will be establishing a naval pump manufacturing facility at a cost of Rs.50 crore.