Big Investment Coming to Tamil Nadu: Minister T.R.B. Rajaa Announces
Chennai (Tamil Nadu) [India], August 22: A major economic announcement is expected in Tamil Nadu as the state’s Minister of Industries, T.R.B. Rajaa, hinted at a significant development. An Indian multinational corporation, a leader in its sector, is set to establish operations in Tamil Nadu.
In a social media post, Rajaa expressed his excitement about the upcoming investment, emphasizing his deep connection to the sector. He stated, “The #InvestInTN juggernaut never takes a break!!! An Indian multinational which is the top company in its sector is going to set up its operations in #TamilNadu. It is a sector I am extremely passionate about, given my roots.”
This announcement follows the Tamil Nadu Global Investors’ Meet 2024, where investment MoUs worth Rs 6.64 lakh crores were signed, enabling 26 lakh jobs. Rajaa mentioned that efforts to ground these investments will continue.
Chief Minister MK Stalin highlighted that the state has attracted investments worth Rs 9.74 lakh crores, creating 31 lakh jobs over the last three years. Speaking at the ‘Tamil Nadu Investment Conclave 2024’, Stalin inaugurated 19 projects worth Rs 17,616 crore and laid the foundation for 28 projects worth Rs 51,157 crore.
Notably, a MoU was signed between the Tamil Nadu government and Greenko Company to start 3 closed-loop pump storage facilities, bringing an investment of Rs 20.114 crore and creating jobs for 1,500 people. Additionally, the Chief Minister laid the foundation stone for ‘TN ENGINE’, a joint initiative of Tata Technologies and Tamil Nadu Engineering & Innovation Centre, to set up an advanced common engineering facility centre for 9 emerging technologies at a cost of Rs 400 crores on the Anna University campus, Coimbatore.
Doubts Revealed
Tamil Nadu -: Tamil Nadu is a state in the southern part of India. It is known for its rich culture, temples, and industries.
T.R.B. Rajaa -: T.R.B. Rajaa is the Minister of Industries in Tamil Nadu. He is responsible for promoting and managing industrial development in the state.
multinational corporation -: A multinational corporation is a company that operates in multiple countries. It has offices, factories, or other facilities in different parts of the world.
Tamil Nadu Global Investors’ Meet 2024 -: The Tamil Nadu Global Investors’ Meet 2024 is an event where business leaders and investors come together to discuss and sign agreements for new investments in Tamil Nadu.
MoUs -: MoUs stands for Memorandums of Understanding. These are agreements between two or more parties to work together on certain projects or investments.
Rs 6.64 lakh crores -: Rs 6.64 lakh crores is a large amount of money. In Indian numbering, ‘lakh’ means 100,000 and ‘crore’ means 10 million. So, Rs 6.64 lakh crores is 6.64 trillion rupees.
Chief Minister MK Stalin -: MK Stalin is the Chief Minister of Tamil Nadu. He is the head of the state government and is responsible for making important decisions for the state.
Greenko Company -: Greenko Company is a company that focuses on renewable energy projects like wind and solar power. They work on creating clean and sustainable energy solutions.
