TN okays 11 projects worth over Rs. 20,000-cr investments.

In a run-up to the Global Investors’ Meet (GIM) scheduled next week, the Tamil Nadu Cabinet recently cleared 11 projects, involving investments worth over Rs. 20,000 crore, apart from approving a proposal to unveil an aeroplane components policy at the event. Government officials did not give any further details on the 11 projects.

It is expected that the Memorandum of Understandings are likely to be signed for these projects at the GIM to be held on January 23 and 24.

This is the third tranche of approvals. In the two previous Cabinet meetings, approvals were given for 30 projects that would bring investments of Rs. 50,000 crore.

The government expects to sign over 140 MoUs at the event with total investments in excess of Rs. 2.4 lakh crore.

The policy for aeroplane components comes in the backdrop of the State government’s plan to announce a separate defence aerospace policy to attract investment form both domestic and international companies to set up their base in the aerospace park at Sriperumbudur in an area of around 250 acres that can be expanded to 700 acres.

The Tamil Nadu Defence Industrial Corridor is set to be inaugurated by the Defence Minister Nirmala Sitharaman at Tiruchi.

HBL