Tata group to invest Rs.5,000 Cr in Tamilnadu: TN Chief Minister
05 November 2020: Commenting on a media report, in his Facebook post, Tamilnadu Chief Minsiter Edappadi K. Palaniswami, stated: “It is a matter of great pride that the Tata group shall invest Rs.5,000 Crore in Tamilnadu. The Tatas join the ranks of international giants like Foxconn, Dell who have made their manufacturing base in our state.”
He was referring to the report of The Hindu Business Line which said that the Tata Group will to set up a plant at the industrial complex in Hosur, Tamil Nadu to produce mobile components. Reportedly, Tata Electronics, a Tata Group company, has been offered 500 acres of land by the Tamilnadu Industrial Development Corporation (TIDCO). The report is being widely published by scores of online media in the last one week.
TIDCO facilitates large industrial and infrastructure projects in Tamil Nadu involving large investments. TIDCO is the Nodal Agency for the development of Chennai Bengaluru Industrial Corridor (CBIC), Chennai Kanyakumari Industrial Corridor (CKIC), Western Corridor (Kochi-Bangalore Industrial Corridor) and Defence Industrial Corridor projects. TIDCO has in several joint venture projects across various sectors such as Textiles, Auto Components, TITAN Industries Ltd, Chennai Trade Centre, etc.