Chennai: Bucking the trend of Slowdown and investment outflow, Government of Tamil Nadu on Wednesday signed 17 Memorandums of Understanding (MoU) worth Rs 15,128 crores having a potential to generate about 47,150 jobs.
The investing companies are from Germany, Finland, Taiwan, China, France, South Korea, Japan, USA, Australia, England and Netherlands.
9 MoUs were exchanged physically with the Chief Minister Edappadi K. Palaniswami while others were signed via video conference. Most of the investments are proposed in and around Chennai and Kancheepuram.
The details of MoUs signed are:
| Company | Investment (In Rs) | Job generation |
| Commercial vehicle maker Daimler India | 2,277 crore | 400 |
| Finnish mobile phone component maker Salcomp | 1,300 crore | 10,000 |
| Japanese semi-conductor chips maker Polymatech Electronics | 900 crore | 600 |
| Limited and Aston Shoes Pvt Ltd | 350 crore | 25,000 |
| Australia's Lai Investment Manager Private Limited | 400 crore | 5,850 |
| South Korea's Mando Automotive India Private Limited to set up a casting facility | 150 crore | 250 |
| Netherlands' auto component maker Dinex | 100 crore | 300 |
| Indo-UK joint venture Chennai Power Generation Ltd 750 MW plant powered by natural gas | 3,000 crore | 3,000 |
| French company IGL India Transplantation Solutions Pvt Ltd | 18 crore | 30 |
| French company Vivid Solaire Energy Private Limited to expand wind power capacity | 2,000 crore | 600 |
| US based HDCI Data Centre Holdings Chennai LLP | 2,800 crore | 200 |
| Singapore's ST Tele Media | 1,500 crore | 200 |
| German windmill component maker Baettr | 210 crore | 320 |
| China's electric vehicle maker BYD India Private Limited | 50 crore | 130 |
| Taiwan's TJR Precision Technology Company Limited | 46 crore | 100 |
| Japanese sealing material maker Pillar Industries India Pvt Limited | 15 crore | 20 |
| US based Lincoln Electric research and development centre | 12 crore | 200 |
| Total | 15,128 crore | 47,200 |
Many companies are reportedly shifting manufacturing facilities out of China, after the COVID 19 crisis, to reduce the dependence on the country.
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Tamil Nadu government has set up a special Investment promotion Task Force under the chairmanship of Chief Secretary K Shanmugam to attract investments from China.
Also, the state set up a high-level panel headed by former Reserve Bank Governor Dr. C Rangarajan, to assess the impact of COVID 19 in the state and suggest measures to improve the fiscal condition and diversify tax revenues.
