India News | TN CM to Lay Foundation Stone for New Projects Worth Rs 51,000 Cr

Chennai, Aug 20 (PTI) The foundation stone for new industrial projects valued at Rs 51,000 crore would be laid on August 21 by Tamil Nadu Chief Minister M K Stalin here.

Minister for Industries T R B Rajaa said on Tuesday that investments worth Rs 17,616 crore received in the past from various multi-national companies would also commence their commercial production during the event.

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"With continuous follow up of the investments committed by the companies, tomorrow Rs 17,616 crore worth of investments committed by various companies will see the inauguration of their new projects while Chief Minister (M K Stalin) will lay the foundation stone for various companies that have committed investments of Rs 51,000 crore", Rajaa told reporters here.

After the new projects totalling Rs 68,616 crore from various companies, over one lakh new jobs are expected to be created in the State, he noted.

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The Minister further said unlike other state governments, Tamil Nadu formed a committee to pursue the investments committed by various companies in the State.

"Normally, other States or state governments showcase the MoUs signed with companies, and the amount of investments committed. But our government under the leadership of the Chief Minister (M K Stalin), formed a panel which is to follow up the investments committed by various companies," he remarked.

The investment commitments made by the companies include the visits undertaken by the Chief Minister to various countries, those received between 2021-and 2023 and also during the maiden edition of Global Investors Meet held in January 2024.

"For example, Chief Minister had visited Japan to woo investors from that country. One of the companies is (electrical equipment manufacturer) Omron which is inaugurating their new project tomorrow. This follow up and turning them into reality, demonstrates the efficiency of this government," he said.

Several industrial captains, Consul Generals are expected to take part in the event scheduled tomorrow.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)