Over Rs 2 lakh crore committed for Tamil Nadu at Global Investors Meet: Jayalalithaa

CHENNAI: The Global Investors Meet here has brought in investment commitments of over Rs two lakh crore for Tamil Nadu, Chief Minister Jayalalithaa said today while promising to come out soon with policies for attracting investments in defence and aerospace sectors.

"I am extremely happy to inform you that the total investments finalised during the GIM is an unprecedented Rs.2,42,160 crore," she said amidst cheers from the participants during the conclusion of the two-day meet.

She said agreements have been inked in various sectors including manufacturing and energy during the meet, attended by 5,000 participants including 1,000 from overseas.

Enthused by the encouraging response, Jayalalithaa said her government would shortly come out with strategic policies for sectors including aerospace and defence.

The meet would now be held once every two years, she added.

Stating that Tamil Nadu was already a top automobile hub, she said "with the signing of MoUs today, Chennai will become the world's largest car manufacturing hub."

Giving a detailed account of the sector-wise investment flow, she said Rs.1,04,286 crore was in manufacturing, Rs.1,07,136 crore in energy and Rs.10,950 crore for Information Technology.

Handlooms and textiles (Rs.1,955 crore), agriculture (Rs.800 crore) and fisheries (Rs.500 crore).

"MoUs have been signed to set up solar energy projects with a total capacity of 5345 Mega Watts with an investment of Rs 35,356 crore," she added.

More than 10,000 Medium and Small Industries have also entered into MoUs to invest Rs 16,533 crore.

Investments, she said, was more than double the targeted Rs one lakh crore and has also exceeded the cumulative investment through all MoUs signed by Tamil Nadu over a 20-year period from 1991 to 2011, the chief minister claimed.

Asserting that her regime believed in balanced growth across all regions of the State, she said an attractive package has fetched almost 50 per cent of investments for Southern districts of Tamil Nadu.

"Out of Rs 1,04,286 crore worth of MoUs in the manufacturing sector alone, almost 50 per cent of the investment has been committed for the southern districts."

Jayalalithaa said the Madurai-Tuticorin Industrial Corridor Project envisioned by her has received a "massive boost" with one of the projects being signed today is to establish an LNG terminal at Tuticorin.

"This project along with the LNG terminal proposed at Ennore (near here) would secure the long term energy security of the State and further enhance the competitiveness of the manufacturing sector."

"My government will come out shortly with pragmatic policies not only for textiles, micro, small and medium enterprises but also in Information Technology, ITES, electronic hardware, aerospace and defence production," she said.