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Tamil Nadu CM Stalin inaugurates Perambalur industrial park announced in budget

The government said it was implementing measures to achieve the DMK chief minister's goal of a $1-trillion economy.

stalinCM M K Stalin at the industrial inauguration event in Tamil Nadu’s Perambalur district.

Tamil Nadu Chief Minister M K Stalin inaugurated an industrial park at Eraiyur in Tamil Nadu’s Perambalur district on Monday. He also laid the foundation stone for the Phoenix Kothari Footwear Park.

The inauguration of the 243.39-acre park of the State Industries Promotion Corporation of Tamil Nadu (Sipcot) followed an announcement in the 2022-23 budget session that new parks would be set up in Coimbatore, Perambalur, Madurai, Vellore and Tiruvallur districts.

“The government is implementing various measures to achieve Chief Minister M K Stalin’s goal of achieving a $1-trillion economy by 2030-31,” said a press release issued by the government.

The release said that Tamil Nadu had been among the leading states in the country in terms of economy and industrial development. The state is taking various initiatives to strengthen its economy by attracting investments to provide lakhs of jobs, particularly for women, it added.

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Also on Monday, the government signed 10 memorandums of understanding with Phoenix Kothari Footwear and its affiliated companies. The project is set to attract an investment of Rs 740 crore and generate employment for 4,500 people, according to the release.

This is apart from the two Rs 1,700-crore deals that the government signed with the company in August. These deals are expected to ensure jobs for 25,000 people, the release said.

The government has so far signed 12 deals, which it expects to attract an investment of Rs 2,440 crore and ensure employment for 29,500 people.

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The government expects non-leather footwear and their related companies in Perambalur district to attract an investment of Rs 5,000 crore and generate jobs for 50,000 people.

“The companies will provide preference to women in employment and it will also pave the way for the economic development of the district,” the release added.

First published on: 28-11-2022 at 21:53 IST
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