TN govt to sign 25 MoUs for Rs 30,000 cr investment in 2008

Chennai, May 5 (UNI) With the investment climate buoyant , the Tamil Nadu government will sign 25 Memoranda of Understanding (MoUs)attracting an investment of more than Rs 30,000 crore in 2008, Local Administration Minister M K Stalin told the state Assembly today.

Moving the demand for Grant for Industries, he said the vision of the state government was to make Tamil Nadu the hub for Global manufacturing.

Observing that the state had already emerged as the hub for automobile and auto component industries, electronic hardware and software, he said the government has so far signed 14 MoUs bringing an investment to the tune of Rs 18,483 crore, providing direct and indirect employment to nearly 1.50 lakh people.

Quoting the report of the Centre for Monitoring Indian Economy (CMIE), Mr Stalin said the investments in the pipeline in the state shot upto Rs 157,903 crore in April 2001 from Rs 90,650 crore in May 1996. In June 2006 it stood at Rs 173,529 crore, before rising to Rs 348,704 crore in March this year.

'The incremental investment committed in Tamil Nadu from July 2006 to March 2008 was Rs 175,175 crore. This was an increase of more than than 100 per cent in the pipeline of investments in the last two years'', he said, quoting the CMIE report.

To attract more investments, the governemnt would provide special attention to southern districts by taking up projects like four-laning of National Highay from Madurai to Tuticorin and Madurai to Tirunelveli, besides expanding the Madurai and Tuticorin airports.

''Steps will be taken with the help of the Centre to improve the efficiency of the Tuticorin Port by introducing mechanisation and improving the draught to enable berthing of ships carrying larger cargo load'', he said and added that the state would take up with the Centre provision of international connectivity to Madurai and Tuticorin airports.

Mr Stalin said SIPCOT would also be developing four to five Industrial Estates with 1000-2000 acres of land at strategic locations to convert South Tamil Nadu as an Industrial destination for investors in India and abroad.

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