12 MoUs to fetch TN Rs 21Kcr

Nov 06, 2012 |

chennai

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Chief minister J. Jayalalithaa created history of sorts by inking a dozen investment proposals on a single day, a never-beforeattempted feat by previous governments, that could catapult the state to a higher growth orbit.

The government on Monday signed MoUs with 12 foreign and domestic companies, including four Fortune 500 firms, envisaging total investment of Rs 20,925 crore and direct employment to about 1 lakh people.

Promising to develop the state on par with some middle-income countries such as Malaysia, Thailand and South Korea, Ms Jayalalithaa was confident of bringing in Rs 1 lakh crore new investments in the manufacturing sector.

Speaking at a function marking the MoU signing, she said, “My government is committed to creating a hospitable and conducive climate for investment and enterprise.“

She also assured that her government would unveil new policies on industrial, automobile and auto parts, aerospace and biotech sectors. “With the automobile and auto parts policy to be shortly released, I have set a goal to make Chennai the world’s largest auto hub,” she pointed out. The CM was targeting 11 per cent growth in state economy and 14 per cent growth in the manufacturing sector along with six times’ growth in per capita income by 2023.

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