The Tamil Nadu Cabinet, on Tuesday, October 8, approved 14 new projects with a total estimated investment of 38,698 INR-Crore. These projects, spanning 12 districts are expected to create around 47,000 jobs.
The projects span diverse sectors such as auto and electronic vehicles, electronics, green energy, telecom equipment, and advanced manufacturing. Key projects approved by the Tamil Nadu cabinet include:
Yuzhan Technology: Part of the Foxconn Group, this company will invest an estimated 13,180 INR-Crore in Kancheepuram for phone manufacturing. The project will create around 14,000 jobs.
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Leap Green Energy: A renewables platform, focused on providing clean energy solutions, will invest 10,375 INR-Crore in a hydrogen power storage plant. The company plans to set up its plant in Thoothukudi and other districts such as Virudhunagar, Tirunelveli, Tiruvannamalai and Ramanathapuram, creating 3,000 jobs.
Tata Motors: 9,000 INR-Crore investment in Panapakkam, Ranipet for a world-class green production facility. It will manufacture cars and sport utility vehicles (SUVs). The investment will create around 5,000 jobs.
Kaynes Circuits India: The cabinet also approved the 1,395 INR-Crore proposal to set up a plant in Kancheepuram, generating around 1,033 jobs.
Ascent Circuits: Investing nearly 612.6 INR-Crore in Hosur, generating 1,200 direct and indirect job opportunities.
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Freetrend Industrial India: 1,000 INR-Crore investment in Ariyalur for a footwear manufacturing plant. With this facility, the company aims to position itself as a hub for the global footwear industry, generating 14,000 jobs.
Additionally, Grand Atlantia Panapakkam Special Economic Zone Developers will invest an estimated 500 INR-Crore. Meanwhile, the Tamil Nadu Cabinet also cleared a proposal worth nearly 250 INR-Crore for Tablets India, which is investing in Chengalpattu. Both these projects will generate nearly 5,000 and 350 new job opportunities, respectively.
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