19 MoUs Worth Rs 5000 Crore Signed During CM Palaniswamy’s UK, US Visit

A total of 19 firms have inked Memoranda of Understanding (MoU) to invest in Tamil Nadu during Chief Minister Edappadi K Palaniswami’s visit abroad, attracting total investment of Rs 5,000 crore, according to an official release issued by the government. The investments have the potential to create 20,000 new job opportunities, the release added.

As many as 19 MoUs were signed at an Investors’ Meet held at San Jose in the US on Wednesday, according to the official release. The meeting saw the participation of over 250 investors, including officials of firms like Foxconn and Zoho Corporation, who have already invested in TN.

At the end of the investors meet held in New York, 16 companies had signed up pacts with Tamil Nadu, including Jean Martin, Aquil Systems, Scitus Pharma, Nurray Chemicals, Novitium Labs, Jogo Health, ST LNG, Saram 4, Emerson, Aspire Consulting, Revature-LLC, and Zillion Technologies.

Palaniswami also held discussions with other investors, such as Melissa Kessler, Mark Johnson, Kay and Lincoln, Warren Knapp and  Manish Bhandari. The investors meeting was attended by over 200 investors from US, including majors like Caterpillar and Ford, who have already invested in the State.

Stating that his government would accord a ‘red carpet welcome’ for non-resident Tamils willing to invest in projects in their homeland, Palaniswami launched the Yaadhum Oore (the world is our home) scheme. He also launched a dedicated portal for the scheme, through which non-resident Tamils can reach out to the State government, if they have any suggestions or proposals. The website will be managed by the Tamil Nadu Industrial Guidance and Exports Promotion Bureau.

Besides, Haldia Petrochemicals, one of the largest companies in the sector in India, signed an in-principle agreement to establish a naphtha cracker unit in Tamil Nadu at a total investment of Rs 50,000 crore in the first phase.

Addressing the Tamil diaspora in New York, Palaniswami said that he had never dreamt of becoming the CM. “I am here because of my work and you because of your work,” he told the Tamil diaspora. – The New Indian Express

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