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Signing of 12 MoUs a 'Red Letter' day: Jaya

Posted on Nov 05, 08:58PM | UNI

Chief Minister J Jayalalithaa today termed as a Red-Letter day in the annals of industrialisation of Tamil Nadu, as never before had the state government signed 12 Memorandums of Understanding (MoU) on a single day.

Speaking after the state government inked pact with 12 companies, Ms Jayalalithaa said the government today signed MoU with four Fortune 500 companies -- Hyundai Motors, Nokia, Saint Gobain and Sanmina-SCI -- apart from other majors like M/s Sundaram Clayton Limited, M/s Tube Investments of India, M/s.Harsha Group of Companies and M/s Amway India Enterprises Private Limited.

"The total investment envisaged in these 12 MoU is Rs 20,925 crore that will generate direct employment for 36,855 people and indirect employment for about one lakh people," she said.

The Chief Minister pointed out that on May 14 this year, her government had signed MoU for five projects, namely, Daimler India Commercial Vehicles Private Limited, India Yamaha Motor Limited, Ashok Leyland- Nissan Motor Company Limited, Eicher Motors Limited and Phillips Carbon Black Limited, with a total investment of over Rs 5,700 crores with a direct employment potential for about 9,500 persons.

She highlighted the achievements made during her previous AIADMK regimes between 1991 to 1996 and 2001 to 2006 that provided impetus to the industrial development and the revolution it had created in the automobiles and electronic hardware manufacturing sectors.