Tamil Nadu Cabinet, on Tuesday, October 31, approved “structured packages” for eight projects worth 7,000 INR-Crore. These projects include various fields ranging from electronic vehicle components to footwear, glass manufacturing, and aerospace.
The projects approved by the cabinet are as follows:
- Taiwan’s Hong Fu Industrial to set up a non-leather manufacturing facility in Panapakkam, Ranipet district.
- Pou Chen, Feng Tay, and Kothari-Phoenix Group will be investing approximately 6000 INR-Crore for the set up of non-leather footwear manufacturing units in Kallakurichi, Ranipet, Bargur, Cheyyar, and Tindivanam.
- The government aims to set up these non-leather footwear manufacturing units in 20 locations (especially in rural areas) over three years. These projects are estimated to attract a revenue of 20,000 INR-Crore by 2025.
- Saint Gobain, the French glassmaker, to set up a new manufacturing plant in Kanchipuram district. The company will invest approximately 3400 INR-Crore in various businesses like solar glass and glass wool.
- Seoyon E-Hwa Mobility, a South Korean firm, will develop an EV component manufacturing unit in Krishnagiri district.
- The cabinet is promoting the Hosur-Krishnagiri-Dharmapuri (HKD) region as the hub of the EV sector for companies like Ather, Ola, and Simple Energy to set up their shops.
- The state also approved structured investment packages for Mylan Laboratories, Sundaram Fasteners, and International Aerospace Manufacturing Private Limited.
- A joint venture between Rolls Royce and Hindustan Aeronautics Limited – IAMPL, will expand its manufacturing facility in Hosur near Bengaluru.
Also Read: Major upgradation of Raipur Railway Station under SECR
The cabinet also approved the Tamil Nadu States Port Development Policy, encouraging the development of small ports in the state in Private-Public Partnership (PPP) Mode. This new policy will help in the development of 17 small ports boasting a 1076-km coastline. These investments together are estimated to generate job opportunities for approximately 22,000 people.
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