The Tamil Nadu government has cleared a proposal by Tata Electronics to set up a mobile phone components manufacturing plant in Krishnagiri district at an investment of Rs5,763 crore, which will create 18,250 jobs.
The state Cabinet, under the chairmanship chief minister Edappadi K Palaniswami, late on Friday evening gave approval for 34 major investment proposals, including that of Tata and Pegatron Corporation of Taiwan, a contract manufacturer for Apple, which will spend Rs1,100 crore in phase- I investment and create 14,079 jobs in Chengelpet district to set up a mobile phone manufacturing plant.
The Cabinet also cleared the Tamil Nadu government’s new industrial policy, 2021, which will be unveiled soon.
The 34 proposals approved involve an investment of Rs52,257crore and has the potential to create 93,935 jobs. The investments are mostly in sectors like electronics, automobile and auto-components, including electric vehicles and solar cell manufacturing, a statement by the state government said.
Some of the major investments that have been approved include that of Luxshare of Taiwan, which will pump in Rs745 crore and create 4,000 jobs to make electronic components and wearables at Sriperumbudur, reviving the defunct Motorola factory.
Sun Edison will infuse Rs4, 629 crore and employ 5,397 people in the state to produce solar PV modules. Ola Electric will put in Rs2,354 crore and create employment for 2,182 people at SIPCOT park in Bargur, Krishnagiri district, for making electric vehicles and batteries.
Eickhoff Wind, a German company, will invest Rs621 crore and hire 319 people to manufacture gearboxes for wind energy production, near Chennai. This is a relocation of the company’s production facility from China and Germany.
BASF of Germany, one of the world’s largest chemical companies, will invest Rs345 crore and create 235 jobs to make auto-emission catalysts in Chengalpet district.
Lucas TVS will invest Rs 2,500 crore and employ 3,500 people to manufacture Lithion ion batteries in Tiruvallur district.
Daicel Corporation, a Japanese company, will set up India’s first airbag inflator manufacturing unit at One Hub Chennai in Chengalpet district at an investment of Rs358 crore and hire 180 people.
LS Automotive, a Korean company, will manufacture automotive switches in Tiruvallur district with an investment of Rs250 crore, employing 200 people.
Autoliv Inc, based in US, will invest Rs100 crore and employ 400 people to manufacture passenger safety products (auto components) at SIPCOT Park, Cheyyar, in Tiruvannamalai district.
Data Patterns will invest Rs303.52 crore and create 703 jobs in the Chennai node of the Tamil Nadu Defence Industrial Corridor to make defence and aerospace related products.
The statement said the incentive packages have been customised to suit the requirement of each investor. In the case of some, the government had already entered into MoUs in order to enable them to do preliminary works. Now, with Cabinet approval, detailed legally binding MoUs will be executed.
Tamil Nadu Industrial Policy 2021, approved by the Cabinet, will be unveiled soon. These special initiatives taken by the government will lead to further industrial development of the state and generation of employment opportunities for youth, particularly during this pandemic period, it added.