Tamil Nadu set to sign Rs 67,452 crore investment MoUs at Chennai summit

The Tamil Nadu government will host the Vetri Tamil Nadu Investors’ Summit in Chennai on Thursday, where it is expected to sign investment agreements worth Rs 67,452 crore.

Chief minister C. Joseph Vijay will preside over the summit in Guindy, which will bring together senior officials, industrialists, investors and representatives of major companies.

The government is set to sign memoranda of understanding with 97 companies for projects across various sectors. These investments are expected to create 1,06,998 employment opportunities in the state.

The event comes as the Tamilaga Vettri Kazhagam (TVK) government completes 96 days in office. Industrial development, employment generation and investment promotion have been among its key priorities since it assumed power.

Vijay was sworn in as Tamil Nadu’s 12th chief minister on 10 May after TVK won the election to the 17th Legislative Assembly. His government has since intensified its engagement with domestic and international companies to attract investment in manufacturing, technology and services.

Including agreements concluded over the past three months, the state expects to sign 104 MoUs within its first 100 days. Together, these projects envisage investments of Rs 1,02,514 crore and the creation of 1,21,788 jobs.

The agreements planned for Thursday will account for the largest share of the government’s investment commitments so far. Officials expect the projects to expand Tamil Nadu’s industrial base and create opportunities for skilled workers, graduates and young jobseekers.

The government is also likely to outline measures to help projects progress from signed agreements to implementation. These could include faster approvals, better coordination among departments and continued support for investors.

Details about the participating companies, project locations and sector-wise investment commitments are expected to be announced during the summit.

With IANS inputs