General Electric (GE) will sign an MoU with the TN government on Tuesday to establish a centre of excellence in aerospace, seen as a sunrise sector in the state to attract investments due to its adjacency to engineering industries, in association with state-owned Tidco. The MoU will be signed in the presence of Stalin. Another MoU will be signed with Taiwan’s Lotus Footwear. “The state has been looking to attract an established big brand to market the potential for attracting investments in the defence and aerospace sector. The GE investment is an important development on that front,” a senior state government official told TOI. The state government has lined up a slew of new investment projects, besides laying foundation stones and kick-starting commercial production of established industrial units.Altogether, 47 projects with combined investment of more than Rs 28,664 crore and providing employment to 82,400 people have been lined up for Stalin’s engagement on Tuesday, industries minister Thangam Thennarasu tweeted.
Investment Conclave 2021, Chennai47 ProjectsRs. 28, 664 Crore Investment82,400 EmploymentUnder the able leade… https://t.co/M1OVqfatco
— Thangam Thenarasu (@TThenarasu) 1626705888000
Taiwan’s Lotus Footwear manufactures sports and athletic shoes at its Cheyyar SEZ facility. “Lotus, a big ticket employer, will be establishing a new footwear unit near Tindivanam in Villupuram district. This will be the first major project in the district. Lotus will also be expanding its production facility at Bargur,” the official said.
The focus on Villupuram district is in line with the state’s thrust to facilitate new industries in the industrially backward districts of Villupuram, Kallakurichi, Cuddalore and Tiruvannamalai in north TN. Sipcot’s move to establish industrial estates in Cheyyar and Tindivanam is also to help achieve that.
“New MoUs to be signed will include establishing data centres and manufacturing units for auto components and cryogenic tankers. In addition, foundation stone will be laid for a new oxygen plant by Inox at Hosur,” the official added.