The Tamil Nadu government has cleared a proposal by Tata Electronics to set up a mobile phone components manufacturing plant in the Krishnagiri district at an investment of Rs5,763 crore, which will create 18,250 jobs.
The state Cabinet, under the chairmanship of chief minister Edappadi K Palaniswami, late on Friday evening gave approval for 34 major investment proposals, including that of Tata and Pegatron Corporation of Taiwan, a contract manufacturer for Apple, which will spend Rs1,100 crore in phase- I investment and create 14,079 jobs in Chengelpet district to set up a mobile phone manufacturing plant.
The 34 proposals approved involve an investment of Rs52,257crore and has the potential to create 93,935 jobs. The investments are mostly in sectors like electronics, automobile and auto-components, including electric vehicles and solar cell manufacturing, a statement by the state government said.
Some of the major investments that have been approved include that of Luxshare of Taiwan, which will pump in Rs745 crore and create 4,000 jobs to make electronic components and wearables at Sriperumbudur, reviving the defunct Motorola factory.
Sun Edison will infuse Rs4, 629 crore and employ 5,397 people in the state to produce solar PV modules. Ola Electric will put in Rs2,354 crore and create employment for 2,182 people at SIPCOT park in Bargur, Krishnagiri district, for making electric vehicles and batteries.
Tamil Nadu Industrial Policy 2021, approved by the Cabinet, will be unveiled soon. These special initiatives taken by the government will lead to further industrial development of the state and generation of employment opportunities for youth, particularly during this pandemic period, it added.