TN likely to sign MoUs with some auto biggies

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Sriperumbudur, Tamil Nadu, Feb 2 (UNI) With a view to make Tamil Nadu a major hub for automobiles, Chief Minister M Karunanidhi today said the state government is likely to sign Memorandum of Understandings (MoUs) with some of the big automobile firms across the world.

In the last 20 months, the state government has signed 12 MoUs with globally known companies that will provide an investment of Rs 15,000 crore and create over 1.30 lakh jobs in the state.

''Many other big companies are in advanced stage of discussions with us and we hope to sign many more MoUs in the coming months'' the Chief Minister told reporters here while inaugurating the Hyundai Motors India Ltd's second plant.

To cater to the demand of the domestic as well as the export markets, country's second largest auto maker Hyundai Motors India Ltd's (HMIL) second plant began operation here with the company already investing Rs 4,000 crore (one billion dollars) with the plant having additional production capacity of three lakh units.

Speaking on the occasion he said that investments come to the state because of various advantages available here, adding that the state government is transparent and takes quick decisions.

The state has a large pool of trained and efficient manpower, Mr Karunanidhi added.

In addition to this, he said all the traditional industries like textiles, garments, leather, etc will also be given due encouragement.

The function was attended by Communications and Information Technology Minister A Raja along with several other dignitaries.

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