Coimbatore secures Rs 7,814 cr investments as industries minister seals MOUs

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Coimbatore secures Rs 7,814 cr investments as industries minister seals MOUs

Coimbatore secures Rs 7,814 cr investments as industries minister seals MOUs

Industry News
Dec 15,23

More than 210 companies have expressed interest in investing approximately Rs 6,573 crore in Coimbatore in the upcoming years.

Coimbatore secures Rs 7,814 cr investments as industries minister seals MOUs

Recently, at least 27 small and medium-scale industrial units officially entered into memoranda of understanding in the presence of State Industries Minister T R B Rajaa. These agreements signify investments totalling Rs 1,241 crore in the district. Additionally, more than 210 companies have expressed interest in investing approximately Rs 6,573 crore in Coimbatore in the upcoming years. Upon realisation of these investments, approximately 22,000 individuals will secure direct employment opportunities.

The event, titled "Tamil Nadu Influence," organised by Guidance Tamil Nadu and FICCI, provided a platform for Rajaa to affirm the government's commitment to support investors. He highlighted Chief Minister M K Stalin's efforts to propel Tamil Nadu to the forefront of industrial growth through groundbreaking initiatives.

Rajaa emphasised the government's dedication to the development of Coimbatore and surrounding districts. Despite challenges in establishing the Sipcot industrial estate in Coimbatore due to land acquisition issues, Rajaa assured that it would soon come to fruition.

Encouraging textile manufacturers in Tirupur to transition from conventional garments to technical textiles with a growing global market, Rajaa also recognised the rapid growth of the electric vehicle sector. He announced upcoming plans for the sector's expansion during the Global Investors Meet in January of the following year.

Expressing optimism, Rajaa envisioned a future where 'Made in Tamil Nadu' becomes a global trend, and brands from the state achieve international acclaim. He acknowledged the trend of Tamil Nadu students pursuing research abroad due to the lack of local research facilities and assured the establishment of such infrastructure, envisioning Chennai as the country's research and development capital.

The event saw the participation of key figures, including Managing Director of Tamil Nadu Industrial Development Corporation Sandeep Nanduri, Coimbatore Collector Kranthi Kumar Pati, General Manager of District Industries Centre G Thirumurugan, and several prominent industrialists from Coimbatore.

Source: The Times of India