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TN eyes Rs 20,000 cr from India Inc

TN FM Pannerselvam indicated this during the presentation of the budget in the Assembly.

Written by Agencies | Chennai | Published: March 26, 2012 3:05:01 pm

Japanese two-wheeler giant Yamaha is all set to make foray “very soon” into Tamil Nadu as the government hopes to tap Rs 20,000 crore in six months from various investors.

Presenting the budget for 2012-13 in the Tamil Nadu Assembly,Finance Minister O Pannerselvam said the government would sign agreements with Yamaha and many other firms.

“Memoranda of Understanding (including Yamaha) are expected to be signed very soon,” Panneerselvam said adding the state government was confident of attracting Rs 20,000 crore of investment in the next six months.

Proposals in the advanced stage of approval were Yamaha,Eicher,Danfoss,Royal Enfield,Philips Carbon Limited,Sundaram Clayton,TI Group,Saint Gobain,Sanmina-SCI and Nokia,he said,adding,discussions were at an advanced stage with another 11 companies to finalise their investment.

Tamil Nadu is home for many automobile companies including BMW,Hyundai,Ford and Germany’s truck manufacturer,Daimler. Though the state has many auto companies representing the four-wheeler industry,Yamaha would be the second to set up base. The first is Venu Srinivasan promoted TVS Motor Company,which has its facility in Hosur.

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