TN clears infra projects worth ₹2,500-cr

Tamil Nadu government has cleared projects worth ₹2,500 crore including the ₹500 crore investments from ITC for its proposed expansion in Coimbatore. Philips Carbon, a carbon black major and Ather Energy, an electric vehicle maker, will invest ₹600 crore each in different projects, while an auto component maker is planning to invest ₹900 crore. These projects were cleared at the cabinet meeting. The CM has written to top automobile companies, electronics majors and those engaged in aerospace in the recent past about the opportunities available in the state in the wake of the impact caused by Covid-19 on the world economy as companies were likely to exit certain countries and relocate their manufacturing activities to India. Tamil Nadu constitutes a Special Investment Task Force to attract investments under the leadership of Chief Secretary K Shanmugham. In March, it signed a memorandum of understanding with 17 companies which committed investments of ₹15,128 crore in the state.