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Tamil Nadu lines up 1.58 billion dollar overseas pacts
Reuters··13 Aug
Tamil Nadu is set to sign about Rs 15050 crore, or 1.58 billion dollars, in new projects by overseas firms, a government source told Reuters on August 13. The figure covers more than a dozen foreign projects inside a wider pack of 97 agreements worth Rs 67452 crore. Officials said the full slate could create more than 100000 jobs.
Prism
What It Means For You
- Job seekers should read 100000 posts as a projection for the full 97 pacts, not as hires already opened by the overseas slice.
- Anyone comparing FDI headlines can note 1.58 billion dollars is the foreign new-project portion, not the entire Rs 67452 crore package.
- Suppliers around server assembly and building materials can watch Super Micro and Saint-Gobain, the two overseas names the source quantified.
What's Happening
- A government source said Tamil Nadu would sign about Rs 15050 crore in new overseas projects as part of 97 pacts worth Rs 67452 crore.
- The source placed Super Micro at about Rs 500 crore and Saint-Gobain at about Rs 2000 crore among more than a dozen foreign projects.
- The three parties named did not immediately respond to requests for comment on those amounts.
Why Overseas Pacts Were Split Out of the Conclave Total
- The Vettri Tamil Nadu Investment Conclave is the TVK government's first large investor event, about 100 days after Vijay took office.
- Reuters treated the overseas slice separately because the advertised 97-deal total mixes Indian firms, foreign firms and brownfield expansions.
- Guidance Tamil Nadu is the nodal agency; more than half the listed projects were described as greenfield and spread across nearly 20 districts.
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