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Time of India
7 days ago
- Business
- Time of India
TN sees Rs 32,500cr investments at first regional investment conclave
TUTICORIN: Big-ticket investments to the tune of Rs 32,554 crore were signed at Tamil Nadu's first regional investment conclave, TN Rising, at Tuticorin on Monday. The 41 MoUs were in multiple sectors including electronics, defence, ship building and non-leather footwear. Tired of too many ads? go ad free now The investments would be spread across the state with a sizable volume in the southern districts. Tuticorin topped in investments with Sakthi Group promising Rs 5,000 crore for ammunition and propellant manufacturing and April Fiber Resource (RGE) Rs 4,953 crore for a man-made fibre unit. Yeemak & Jeanuvs will invest Rs 3,400 crore to make advanced electronics and defence components, and Kaynes Circuits India Rs 4,995 crore to manufacture advanced electronic components in Tuticorin and other districts. Radha Engineering Works will invest Rs 1,500 crore in ship, allied vessels, tug component manufacturing in Tuticorin. Mobius Energy will invest Rs 1,000 crore in solar cell and module manufacturing in Theni district. Prathiksha Green Fuels will put in Rs 1,500 crore for bio-methanol and bio-char manufacturing Hwaseung Enterprise will invest Rs 1,720 crore in the non-leather footwear sector. Hyundai Kefico India has allotted Rs 720 crore to make auto electronic control units in Kancheepuram district. Michelin Tyres is investing Rs 686 crore in Tiruvallur. The MoUs were signed in the presence of chief minister , who said Tuticorin is attracting investments as its port is the gateway for vessels from Southeast Asia. Stalin announced four special projects for the development of Tuticorin and Tirunelveli region including a 250-acre space park in Tuticorin and an entity to focus on developing the ship building sector. Tired of too many ads? go ad free now 'Tamil Nadu offers the talent pool required by various sectors,' he said. Earlier, industries minister T R B Rajaa said, Tamil Nadu is the only state with proper social and industrial infrastructure. 'No other state comes close to what Tamil Nadu has achieved today. This is just the beginning of a new era, and we are starting from the southern districts,' he said.
Time of India
03-08-2025
- Business
- Time of India
Tuticorin to get three defence, space tech investments worth more than 5,600cr
Chennai: Tuticorin district is all set to get new investments totalling 5,600 crore in defence and space tech from Sakthi Group and startups such as Agnikul Cosmos and Etheral Exploration Guild that will also create more than 3,000 jobs. Sources in the state govt said the biggest project involves Sakthi Group, which will set up a manufacturing-cum-proof testing facility for ammunition and propellants in Tuticorin with a committed investment of 5,000 crore. This project will employ around 2,000 people. "Establishment of this facility will augment the defence sector production in Tuticorin district," said a govt source. The second project is from Ethereal Exploration Guild, a space tech startup which will be setting up a manufacturing and testing facility for medium lift rocket engine in Tuticorin. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai The project will involve an investment of 519 crore and an employment commitment of around 582 jobs. The third project is also from a startup. Agnikul Cosmos will invest 121 crore with a projection of creating 525 jobs. The company will establsish a facility for manufacturing and testing of rocket launch vehicles for satellites in Tuticorin. Sources said these three big investments will help establish Tuticorin's credentials as TN's space tech cluster. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo In its recently released space tech policy, the state govt had set a target of attracting 10,000 crore investment in the space sector in the next five years and create direct and indirect employment for nearly 10,000 people. The state is also working towards creating a skilled talent pool for the space sector in the next five years. Given that the Indian Space Research Organization (ISRO) is setting up India's second spaceport in Kulasekarapattinam, Tuticorin is ideally placed to become a defence and space tech hub. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
