Tamil Nadu signs three MOUs worth Rs.13,000 crore

Chennai, Aug 4 (IANS) Tamil Nadu government Wednesday signed three agreements with as many companies involving an investment of around Rs.13,000 crore.

The government signed the memoranda of understanding for setting up with Indian Oil Corporation (a liquefied gas terminal), Videocon (a colour television plant) and JK Tyres (a tyre plant).

According to the state government, the three projects will create over 8,600 direct jobs.

The Rs.10,000 crore IOC gas terminal will have a capacity to handle five million tonnes. A special purpose vehicle (SPV) will lay the pipeline to distribute 20 million cubic metre of gas to power/fertiliser plants and transport sector. As a part of the project a gas based power plant is also planned.

Videocon and JK Tyre would invest Rs.1,500 crore each over a five year period in a liquid crystal display (LCD) Plasma TV and radial tyre plants respectively.

While the TV plant will come up at Manamadurai in Sivaganga district, the tyre plant will be set up in Sriperumbudur near here.

The MOUs were signed in the presence of Chief Minister M. Karunanidhi and Deputy Chief Minister M.K. Stalin at the state secretariat.

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