TN Govt signs 3 MoU's worth Rs 13,000 Crores

Chennai: Tamil Nadu government has signed three agreements with as many companies involving an investment of around Rs 13,000 crore.

The government signed the memoranda of understanding for setting up with Indian Oil Corporation (a liquefied gas terminal), Videocon (a colour television plant) and JK Tyres (a tyre plant).

The Rs 10,000 crore IOC gas terminal will have a capacity to handle five million tonnes.

Videocon and JK Tyre would invest Rs 1,500 crore each over a five year period in a liquid crystal display (LCD) Plasma TV and radial tyre plants respectively.

While the TV plant will come up at Manamadurai in Sivaganga district, the tyre plant will be set up in Sriperumbudur.