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To save the image of TN, GIM 2019 would be doing its best
Posted on: 23/Jan/2019 9:54:39 AM
In the recent years the image of Tamil Nadu as the investment destination has gone down. The news that has emerged out now is on Wednesday, 23rd of January 2019, Global Investors Meet or GIM would bring marathon mission to bring in massive investments from all over the world. The importation piece of information collected was TN government is waiting to sign about 140 MoU’s and they are worth of amount of Rs 2.4 trillion. Few well known companies like Adani Port, Hyundai, GMR, Saint Gobain, IOC etc are in the pipeline. At the Global Investors Meet or GIM 2019, the investment proposals worth Rs 65,000 crores would be signed and it would be superb. The truth is the state cabinet has cleared this investment in the last one month of time. It was revealed that the proposals included huge amount of Rs 27,450 crore projects by IOC arm, CPCL or Chennai Petroleum Corporation Limited and it also included Hyundai Company’s Rs 7000 crores investment plan. The sources have brought out that Mr. Karan Adani who is the CEO of Adani Ports might take part in this GIM 2019 and he might sign a MoU involving Kattupalli Port. A revised master plan with the Ministry of Environment, Forests and Climate change has been filed by Adani Ports Company.
Presently the cargo handling capacity at Katupalli Port in North Chennai is 24.65 million tonnes is known. The superb piece of news collected is this cargo handling capacity at this place would increase to 320 million tonnes. It was in the year 2015 that the previous GIM took place and made huge noises. This GIM is the pet project of former chief minister of TN, Dr. Jayalalitha. It must be taken into account that the investments worth of Rs 19,500 crores has been promised at GIM 2015 but few worth Rs 501 crores materialised. The shocking point of information is TN got ejected out of the Department of Industrial Policy and Promotions top ten investment destinations in 2018 and went to 12th position. The state of TN accounted for just 0.79 percent of total investments in India.
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