The Tamil Nadu Cabinet has approved 15 investment proposals totaling Rs 44,125 crore, which are expected to create over 24,700 jobs across the state. The 16th cabinet meeting, chaired by Chief Minister M K Stalin, also gave the green light to three renewable energy policies aimed at achieving 20,000 MW of power generation by 2030, according to Finance Minister Thangam Thennarasu.
Thennarasu also announced that on August 17, the Chief Minister will inaugurate India’s first industrial housing facility for 18,720 Foxconn employees. This facility, built at an estimated cost of Rs 706.5 crore, is located at the SIPCOT Vallam Vadagal industrial estate in Sriperumbudur, Kancheepuram district.
The cabinet’s approvals cover a range of sectors, including electronics, food processing, motor vehicles, and battery manufacturing. Notably, a significant investment of Rs 21,340 crore by lithium-ion battery supplier Semcorp in Thoothukudi is expected to create 1,114 jobs. Additionally, Motherson Electronics plans to invest Rs 2,500 crore in Kanchipuram, which will generate 2,500 jobs.
Thennarasu further highlighted that dairy products maker Milky Mist is set to invest Rs 1,777 crore in a food processing unit in Erode. Meanwhile, LOHUM, a global lithium-ion battery recycling company, will produce raw materials for battery manufacturing in Krishnagiri at a cost of Rs 1,597 crore.
In addition to these investments, the cabinet approved global capability centres for pharmaceutical major AstraZeneca and logistics giant UPS. Industries Minister TRB Rajaa remarked that newer sectors are being introduced to Tamil Nadu to enhance job creation and hinted that the electronics sector would soon expand into other parts of the state.
