Karunanidhi woos South Korean investment

Chennai, Feb 2 (UNI) Tamil Nadu Chief Minister M Karunanidhi today wooed South Korean industrialists by assuring them cooperation and support for investing in the State.

Inaugurating automobile major Hyundai's second plant at Sriperumbudur, near here, he said South Korea had the best coal-powered electricity generation technology at reasonable cost.

South Koreans were also strong in oil and gas pipelines and fibre optic cables, besides construction of harbour, airport and port management.

''We will be happy if you can share your vast experience in Tamil Nadu with others and encourage them to invest here...Your repeated investments in Tamil Nadu have proved how happy you are,'' he added.

Mr Karunanidhi pointed out that Tamil Nadu had emerged as a major hub for automobiles, electronics, hardware and software.

''This is largely because of the ecosytem which we have been able to create for these industries,'' he added.

The Chief Minister said his Government had signed MoUs with 12 globally known companies in the last 20 months. ''This would provide investment to the tune of Rs 15,000 crore and provide employment to 1,30,000 people.'' Stating that investments were pouring into the State because of various advantages like transparent governance and quick decision making, he said ''we are also making special efforts to encourage setting up of industries beyond Chennai, Thiruvallur and Kancheepuram districts. I am confident that with these measures, the State will continue to lead in terms of industrial development.'' UNI SNR GD SV DS1510