CHENNAI:
Ceat Tyres has officialy signed a memorandum of understanding with Tamil Nadu government to set up a Rs 4,000 crore tyre manufacturing company to manufacture tyres and allied products at Maduramangalam village near the industrial hub of Kanchipuram.
The MoU was signed in the presence of Tamil Nadu Chief Minister E Palaniswami by Industries secretary K Gnanadesikan and Anant Goenka, Managing Director of CEAT. This comes in the wake of the state cabinet giving its nod for setting up the plant last week.
The investment will spread over the next 10 years and will give direct employment to around 1,000 people, a government release said.
The state government release said that the state government is working towards making Tamil nadu ‘Numero Uno’ state in industries sector.
The investment comes in the wake of Tamil Nadu government planning to hosti the second edition of Global Investors Meet from January 23-24 next year and a sum of Rs 75 crore has already been allocated by Chief
Minister Edapaddi Palaniswami to conduct the event. Sources indicated that the state may be targeting an investment of Rs 3 lakh crore. The first edition of Global Investors Meet was held on September 9, 2015, where in more than 800 global and domestic business delegates took part.
It attracted more than 2.42 lakh crore worth of investment and a total of 98 memorandum of understanding was signed. However, till now, the state had got a commitment of Rs 62,738 crore worth of investment.
No comments:
Post a Comment