Tamil Nadu inks Rs 12,300 crore deal with UK, nearly 9,000 jobs expected
&imwidth=600&imheight=450&format=webp&quality=medium "Tamil Nadu inks Rs 12,300 crore deal with UK, nearly 9,000 jobs expected")
Vijay poses for a group photo during the MoU signing ceremomy worth nearly Rs 11,000 crore, in London on Monday. Photograph: (ANI)
The government had earlier stated that European companies had proposed investments worth Rs 8,491 crore in Tamil Nadu, with the potential to generate 5,690 jobs, adding that the UK trip would aim both to attract new investments and reinforce existing ones in the state.
Tamil Nadu Chief Minister Joseph Vijay on Monday (September 14) signed at least four investment agreements in the United Kingdom worth around Rs 12,300 crore. The investments are likely to generate nearly 9,000 jobs. The state government will have the biggest agreement with Samvardhana Motherson International Limited for an investment of Rs 11,000 crore, having the potential to create nearly 7,000 jobs across design, engineering, manufacturing, assembly and logistics facilities.
To develop a Global Capability Centre in Chennai, CM Vijay has also signed a Rs 1,000-crore deal with a British company, through Ernst & Young. The proposed centre is likely to generate around 2,000 high-value jobs to come up along the upcoming GCC corridor. Another significant deal was signed with Sweden-based Sigma Technology Group in order to expand its Global Capability Centres in Chennai and Tiruchirappalli, which is expected to create around 600 high-value jobs.
A fourth agreement, signed with Wilson Power Solutions, involves an investment of Rs 300 crore and carries the potential to create around 400 jobs in Tiruvallur district. These deals come in line with the investment roadmap the Tamil Nadu government had set out ahead of Vijay's departure for the UK.
The government had earlier stated that European companies had proposed investments worth Rs 8,491 crore in Tamil Nadu, with the potential to generate 5,690 jobs, adding that the UK trip would aim both to attract new investments and reinforce existing ones in the state. Key focus areas identified included advanced manufacturing, automobiles, electric vehicles, electronics and Global Capability Centres.
The visit also followed the India-UK Comprehensive Economic and Trade Agreement (CETA), which came into effect on July 15. According to the Tamil Nadu government, the agreement has created fresh opportunities in sectors such as textiles, leather, footwear, auto components, engineering and electronics.
Trending Stories
)
)
)
)
)
)
)
)
)
&im=FitAndFill=(700,400))
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
)
)
)
)
&im=FitAndFill=(700,400))
)
)
