Overseas trip for investment satisfactory, 10 new companies to collaborate with TN: CM

Chennai | Tamil Nadu has inked pacts with 23 companies, including UK-based Hinduja group and AstraZeneca, for a total commitment of Rs 15,516 crore having a potential to create 17,613 jobs, during his tour of Europe, Chief Minister M K Stalin informed on Monday.

The Hinduja Group will invest Rs 7,500 crore in TN's EV ecosystem, for battery storage systems and the initiative would ensure jobs to 1,000 plus people. AstraZeneca also announced its strategic investment in Tamil Nadu, the Rs 176 crore expansion of its Global Innovation and Technological Centre in Chennai.

Memoranda of Understanding (MoUs) were also signed with Knorr-Bremse, Nordex Group and ebm-papst, during the TN Rising meet in Germany.

Ten new companies have come forward for collaborative ventures with Tamil Nadu, reposing trust on the state, while 17 other firms have decided to expand their ventures, the Chief Minister said.

Stalin, who was accorded a warm reception by state ministers and officials at the airport here upon his arrival from Germany and the UK, said the opposition parties were unable to tolerate his trip as he has ensured hefty investments for the state.

"My one-week trip to Germany and UK was satisfying and it was a victorious trip leading to attracting Rs 15,516 crore investment that would provide jobs to 17,613 people. Totally, 33 MoUs were signed. My foreign trip has been a huge success," he told reporters immediately upon his arrival here.

Stalin said the vibrant industrial climate has encouraged the 17 firms to go on an expansion in Tamil Nadu, deciding against migrating to other states.

Reacting to AIADMK general secretary Edappadi K Palaniswami's criticism, the CM said following his detailed presentation in Germany, many investors said that they now realised the huge potential that Tamil Nadu held for investment and industrial ventures.

Justifying his foreign trip, he said such visits would continue as it was essential to encourage firms to start their new ventures and even expansion programmes in Tamil Nadu.

“Similar to the Investors Summit held in Tuticorin, we will soon hold a similar event in Hosur, where I would be inaugurating Rs 2,000 crore Delta Electronics factory and township for its employees, besides laying foundation stones for Rs 1,100 crore new units on September 11,” Stalin said.

On a personal note, his trip was memorable and unforgettable as he unveiled a portrait of rationalist leader ‘Periyar' E V Ramasamy in Oxford University, Stalin said.

To a question on AIADMK senior leader K A Sengottaiyan serving an ultimatum to his party leader to unite the faction leaders, leading to the stripping of his party posts, he shot back, “Here, we are talking about constructive issues, and you are asking provocative questions."

To another question, Stalin replied, “We are making a silent revolution, despite the financial crunch thrust by the Centre. No matter how much they ignore us, we are striving hard to occupy the top position." Stalin lauded Industries Minister T R B Rajaa and officials for their efforts in clinching the pacts.