The Tamil Nadu Global Investors Meet (GIM) 2024 organised by the Tamil Nadu government attracted investments of Rs 6.64 lakh crore which is expected to generate 27 lakh jobs across various sectors in the state. The initiative is aimed at increasing employment opportunities across urban and rural Tamil Nadu, and is pegged at making Tamil Nadu a trillion dollar economy by 2030.
The GIM held at Chennai Trade Centre, concluded on Monday, January 8. Nearly nine partner countries and 30 other participating countries came together for the two-day event.
On Monday, companies like TATA Power, Sembcorp. Adafi Group and the Chennai Petroleum Corporation Limited (CPCL) announced investments in the state. On day one, Qualcomm, Vin Fast, TATA and JSW group were among the companies which announced significant investments.
Some of the highlights from day 2 of the Global Investors Meet are:
> Chennai Petroleum Corporation Limited (CPCL) proposed to invest Rs 17,000 crores in Nagapattinam district where its petrochemical refinery and decarbonisation units are present. This investment is likely to create 2,400 additional jobs in the said district.
> The High Commissioner of the Republic of Singapore announced that the country, which is one of the nine countries that have partnered with the state, will be investing Rs 31,000 crores in the state.
> Tata Power Renewable Energy announced that it will be expanding its solar plant in Tirunelveli district using Rs 70,000 crore, and that the company is looking to offer 3,000 jobs in the state to run its expanded units.
> TAFE limited, a tractors and farm equipment manufacturer, signed a Memorandum of Understanding with the state proposing an investment of Rs 500 crore. The company has proposed to produce an advanced range of farm equipment for a variety of crops that would best suit the local conditions, the company announced in a statement.
> Sembcorp, a renewable power producer, proposed to set up a green hydrogen plant in Thoothukudi district with a proposed investment amount of Rs 36,238 crores. This will create 1,511 jobs, the company announced.
> Adani Green Energy Limited announced an investment of Rs 24,500 crore in Tiruvannamalai district, which is expected to offer 4,000 job opportunities. Adani Total Gas and CNG, and Adani Connex will be investing Rs 1,568 crores and Rs 13,200 crores respectively, which will together open up 1,300 job opportunities.
> Leap Green Energy private limited also proposed to invest Rs 22,842 crore in the state. Of the total amount, the company has said that Rs 17,400 crores will be invested in Tiruvannamalai and Rs 5,442 crores in Thoothukudi district, to establish an integrated green hydrogen power storage plant. This is expected to create 3,925 jobs in total, the company said.
> L&T construction’s innovation campus has announced an investment of Rs 3,400 crores to generate 40,000 jobs while Ambuja Cements has also proposed a similar investment to create 5,000 jobs in the state.
> Government of Tamil Nadu’s Nodal agency for investment promotion and single window facilitation- UPS and Guidance, which has followed a $15-20 million investment plan that was proposed in 2023 for setting up a technology centre, signed an investment Memorandum of Understanding (MoU) with the state government on Monday.