The Hindu Business Line : TN clears projects worth over Rs 16,000 crore

This is among the investment proposals cleared by the Tamil Nadu Government today. The others include the Renault-Nissan’s joint venture for manufacturing passenger cars, Moser Baer’s project for manufacturing electronic components, the US-based Signet Solar’s project for manufacturing photovoltaic components and Tata Realty and Infrastructure’s IT and ITES SEZ and convention centre.

According to an official press release, the projects together account for over Rs 16,000 crore investments directly generating 58,500 jobs and indirect jobs of over 47,500. The State Cabinet approved these projects at the meeting today.

The Ashok Leyland and Nissan joint venture for manufacturing light commercial vehicles is to come up at Vallam village in Sriperumbudur circle. The factory will have a capacity to manufacture over 200,000 vehicles a year.

The Government has also cleared Ashok Leyland’s expansion plan to make medium and heavy commercial vehicles. This manufacturing facility to come up at Pillaipakkam village near Ennore to the north of Chennai will have a capacity to manufacture over 100,000 vehicles a year.

The Renault-Nissan joint venture is a renewed proposal. The earlier was one in which Mahindra and Mahindra was also a partner, but dropped out.

Moser Baer and its allied units will set up facilities at the Oragadam Sipcot high tech industrial estate to manufacture memory components like flash cards and media players, and silicon-based photovoltaic products and thin films, the release said.

The California-based Signet Solar will set up a solar photovoltaic products manufacturing facility at the Sipcot SEZ in Sriperumbudur near Chennai.

The Cabinet also approved Tata Realty and Infrastructure’s bid to set up a 4-million sq ft IT and ITES SEZ and integrated convention centre at Taramani. Tata Realty won the bid with a quote of Rs 1,326.42 crore in the tender called by the Tamil Nadu Industrial Development Corporation to lease 25.27 acres land to set up the 4-million sq ft facility, the release said.

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