Realisation of GIM investment commitment has begun: Jaya

Chennai, Aug 31 (PTI) Nearly a year after Tamil Naduhosted its first Global Investors Meet (GIM), Chief Minister JJayalalithaa today said companies which had promisedinvestments at the meet have so far invested Rs 25,020.48crore in the state. Recalling that the state attracted investments worth Rs2,42,160 crore through 98 MoUs at the GIM last year, she saidso far, 64 companies have begun work to commence businesses onan investment of Rs 87,062 crore. The GIM was held here in September, 2015 and Jayalalithaahad then announced that such a meet would be held every twoyears. "So far, these companies have invested Rs 25,020.48 crore(in the state) and other enterprises have undertaken necessarypreliminary works," she said in a suo motu statement. Making a slew of new announcements, she said abiotechnology incubation centre would be set up at an outlayof Rs 20 crore at TICEL Bio Park here on a 12,000-square feetarea with all the required infrastructure. It would provide opportunities for start-ups,entrepreneurs and innovators and nurture the growth ofbiotechnology, she said. "World class" infrastructure would be put in place in twoyears at SIPCOT Cheyyar Industrial Complex. This would costaround Rs 100 crore on a 1,000-acre spread in the first phase. Basic amenities will be buttressed at the proposedAerospace Park in Kanchipuram district at an outlay of Rs 30crore and improvement works undertaken at state-run Tamil NaduNewsprint and Papers Limited (TNPL) at a cost of Rs 25 crore. Also, a TNPL unit in Tiruchirappalli district, launchedin 2015, would further be developed at a cost of Rs 35 crore,Jayalalithaa said. She also announced development works at Ariyalur throughTamil Nadu Cements Corporation, in association with thedistrict administration, to the tune of Rs 13.52 crore. Machinery, equipment and tipper trucks would be procuredfor state-run Tamil Nadu Minerals at a cost of Rs 20 crore toenhance its production capacity, she said. PTI VGN APRRC