Kuwait firm to set up Rs 49,000 cr oil refinery in TN: CM
Chennai, Jan 23 (PTI) Kuwait based Al Kharafi plans to set
up an oil refinery and a petrochemical manufacturing facility
at an investment of Rs 49,000 crore in Tamil Nadu, Chief
Minister K Palaniswami said here on Thursday.
The setting up of the refinery would see the southern
districts in the state develop like Jamnagar in Gujarat and
Jurong Island in Singapore, he said.
The Chief Minister said China-based BYD Group also
planned to make investments in the state.
He said 59 companies which signed MoUs with the state
government in the second edition of the Global Investors meet
here in January last year, have commenced production.
Another 213 projects are under various stages of
implementation, he said after taking part in the foundation
stone laying ceremony of DLF DOWNTOWN here.
Palaniswami said the AIADMK government has been
attracting several new investments from various companies,
making the state a front runner in the industry sector.
He said his tri nation trip last year to attract
investments had resulted in MoUs being signed with various
companies for Rs 8,835 crore that would generate 35,520 jobs.
Five projects (that were signed during his visit) have
commenced operations, he said.
The Chief Minister said as part of issuing faster
clearances, a committee headed by him had so far issued single
window clearances to 36 projects valued at Rs 14,728 crore,
that would generate 22,763 jobs.
He said plans were afoot to set up Defence and Aerospace
Parks and an Electric Vehicle park in the state.
On suspension of production at the Sriperumbudur factory
of Finland-based Nokia, he said the Salcom Group has signed an
agreement with the state government to take over the unit.
"Companies which had suspended production due to various
reasons in the past have commenced production following the
continuous efforts taken by my government", he said.
The Chief Minister said Foreign Direct Investments have
increased to Rs 1.80 lakh crore from 1.33 lakh crore in the
On the software sector, he claimed the state was the
third largest exporter and also has the highest number of
Special Economic zones in the country.
On setting up of DLF DOWNTOWN, Palaniswami said it was
necessary as several IT companies were looking at the city to
set up base.
"TIDCO and DLF have come together to set up complex at
an investment of Rs 5,000 crore on 27.04 acres with modern
amenities for IT and IT enabled services. Through this, 70,000
direct jobs can be generated", he said.
Palaniswami said constant efforts were being taken to
improve infrastructure in the IT (Old Mahabalipuram Road) in
line with growing needs.
"Many new projects like Phase II of Chennai Metro,
widening of Old Mahabalipuram Road with byepasses at
Kelambakkam and Thirupporur and flyovers at key junctions at
Rs 1,150 crore are being taken up", he said.
With the new project by TIDCO and DLF, it would go a long
way in further strengthening Tamil Nadu's position as the most
favoured investment destination in South Asia, he said. PTI

(This story has not been edited by THE WEEK and is auto-generated from PTI)