India: attracting investments

Tamil Nadu, the south-eastern state of India, is expected to attract investments of INR 20,000 crore in 15 projects over the next six months, which include a INR 2,100-crore investment by Harsha, a Du…

Tamil Nadu, the south-eastern state of India, is expected to attract investments of INR 20,000 crore in 15 projects over the next six months, which include a INR 2,100-crore investment by Harsha, a Dubai-based industrial group, for a float glass manufacturing facility. Harsha would start work on its float glass manufacturing and related facilities this year in the State Industres Promotion Corporation of Tamil Nadu (SIPCOT) Industrial estate at Thervoy Kandigai in Tiruvallur district. The facility is expected to produce around 800 jobs and will be the second largest in the state after Saint-Gobain facility. The government is also in talks with several companies to help them set up facilities in the state. Most of the 15 projects are in the manufacturing sector and include some Fortune 500 companies, according to a company official. “The cumulative investment for around 15 projects is expected to be around INR 20,000 crore. There would be some of the big ticket companies coming up with their projects in Tamil Nadu,” he said, but refused to reveal more details, as the projects are still under discussion. About 3,000 foreign companies have set up their facilities in the state so far, and there are around 26,000 factories in manufacturing sector in the state, creating 1.77 million jobs.