CM’s overseas visit: 16 US companies sign MoUs with Tamil Nadu govt to invest in state

CHENNAI: Sixteen US-based companies have committed to invest in Tamil Nadu, to the extent of Rs 2,780 crore. The companies signed memoranda of understanding at an investors meeting held in New York on Tuesday in the presence of chief minister Edappadi K Palaniswami and other officials.
The companies included Jean Martin, Scitus Pharma, Novitium Labs, Aspire Consulting and Zillion Technologies.
Haldia Petrochemicals signed an agreement for an in-principle investment of Rs 50,000 crore to set up a plant in the state.
“The chief minister held direct talks with representatives of various companies to promote investments in the state,” said a statement.
The chief minister highlighted the infrastructure facilities being provided for smooth running of the business in the state.
“The new investments will benefit youth (in Tamil Nadu) as over 25,000 jobs will be created,” the statement said.
At the investors’ meeting, Tamil Nadu was showcased as a preferred destination for investments in the sectors of fintech, aerospace and electric vehicles manufacturing. Higher officials of Caterpillar and Ford Motors, which have already invested in the state, were among those who attended the meeting.
Palaniswami, senior ministers and officials are on a three-nation tour to woo investors to Tamil Nadu.
Earlier, he visited the UK. While returning to India, the team will meet potential investors in Dubai.
The team is scheduled to return home on September 10.