TN CM K Palaniswami lays foundation for various projects

Chennai: Tamil Nadu Chief Minister K Palaniswami Thursday laid the foundation stone for 10 production units that will bring an investment of Rs 2,244 crore in various sectors, in line with agreement signed at the Global Investors' Meet (GIM) early this year.

He also inaugurated the commercial production of three firms which had committed investments in the state during GIM 2019, held in January, an official release here said.

The production units for which Palaniswami laid the foundation stone included domestic and foreign firms operating in various sectors including windmill composites, steel, bio-diesel and apparels, according to the release.

The units will come up in different districts of the state such as Kancheepuram, Namakkal, Tiruvallur, Salem and



Coimbatore, it said.

Further, he laid the foundation stone for three manufacturing units that will come up in SIPCOT Industrial Parks in Vellore, Krishnagiri and Tiruvannamalai districts.

The combined value of all these investments stood at Rs 2,375 crore and would create employment opportunities to about 5,400 people, it said.

The Chief Minister also inaugurated the commercial production of three firms that had committed investments during GIM 2019, it said.

The units, established at an overall investment of Rs 140 crore, were located in Coimbatore, Kancheepuram and Tirunelveli districts.

GIM 2019, held in January, had attracted investment commitments to the tune of Rs 3,00,431 crore, with 304 agreements being signed.