In the first thrust of industrial expansion after coming to power, the DMK government led by chief minister M K Stalin will kickstart its focus on attracting industrial investments into the state by signing 47 agreements entailing investments of Rs 28,664 crore. General Electric (GE) will sign an MoU with the TN government on Tuesday to establish a centre of excellence in aerospace, seen as a sunrise sector in the state to attract investments due to its adjacency to engineering industries, in association with state-owned Tidco. The MoU will be signed in the presence of Stalin. Another MoU will be signed with Taiwan’s Lotus Footwear.
“The state has been looking to attract an established big brand to market the potential for attracting investments in the defence and aerospace sector. The GE investment is an important development on that front,” a senior state government official told TOI. The state government has lined up a slew of new investment projects, besides laying foundation stones and kick-starting commercial production of established industrial units.Altogether, 47 projects with combined investment of more than Rs 28,664 crore and providing employment to 82,400 people have been lined up for Stalin’s engagement on Tuesday, industries minister Thangam Thennarasu tweeted.