Tamil Nadu to sign pacts worth over Rs 20,000 crore with 12 companies on November 5

CHENNAI: In line with its ambitious "Vision 2023" document unveiled earlier this year, Tamil Nadu government will sign MoUs worth over Rs 20,000 crore with several leading companies that would provide 36,855 direct and nearly one lakh indirect jobs.

The State government will sign on November 5 MoUs worth Rs 20,925 crore with 12 companies including Indo-Rama, a joint investment from US based PPG Group with Harsha Group and Hyundai Motor India, Chief Minister J Jayalalithaa said in a suo motu statement in the Assembly today.

While a decision to sign MoUs for investments of Rs 5,700 crore with five companies was taken in May, the Cabinet has okayed MoUs with seven more companies at its meeting in September, she said.

"This is for the first time that the Industries Department will be signing so many MoUs with huge investments on a single day," Jayalalithaa said amid thumping of the desk by ruling party members.

Elaborating on the Vision 2023 document, she said it was conceived to make Tamil Nadu achieve a 11 per cent growth in Gross State Domestic Product (GSDP) by 2023.

She said her government was taking various steps to make Tamil Nadu the " numero uno" state in the country by reviving the economy, creating direct and indirect employment opportunities and uplifting people's standard of living.