According to reports, Tamil Nadu Chief Minister MK Stalin inaugurated 19 projects worth Rs. 17,616 crore and laid the foundation for 28 industrial projects entailing a collective investment of Rs 51,157 crore.

These 47 projects, announced during the third edition of the Global Investors Meet held in Chennai in January, are expected to generate employment for about 100,000 people.

Projects are spread across the textile, food processing, and pharmaceutical sectors.

According to MK Stalin, Tamil Nadu has attracted Rs. 97.4 billion in investment over the past three years, creating approximately 3.1 million direct and indirect jobs. He also says that Tamil Nadu is the second largest economy in the country and is taking various initiatives to achieve its goal of making the state a trillion-dollar economy by 2030 as soon as possible.

“You should be the business ambassadors of the state,” says the CM.

Vipul Thuli, CEO (South Asia), Hydrogen Business, SembCorp Industries says, “Tamil Nadu has been a pioneer in wind energy. With the new investment in hydrogen, it is also set to pioneer in this area. The company is setting up the facility in collaboration with Tamil Nadu, Singapore, and Japan. The partners in the project include Kyushu Electric Power Co, Sojitz of Japan, and NYK Shipping Line of Japan. The Company has secured land at Tuticorin port and the offtake agreement was signed in Delhi on Tuesday.”

In addition, renewable energy company Greenko Group plans to invest Rs. 20,114 crores to set up pumped storage projects across Tamil Nadu.

Hyundai Motor India also announced the Hydrogen Innovation Center, which is being developed through a strategic partnership with the Indian Institute of Technology Madras and the State of Guidance Tamil Nadu, with support from the state government. The Hydrogen Innovation Center will serve as a catalyst for innovation in the field of hydrogen technology.

A Memorandum of Understanding was signed for all these initiatives at the Tamil Nadu Investment Conclave 2024. In addition, the state government said it will establish an innovation center in collaboration with TIDCO and Tata Technologies.