CHENNAI, Aug 13 (Reuters) - India's Tamil Nadu state said it
signed agreements worth 150.5 billion rupees ($1.58 billion) for
16 new projects by overseas investors, including France's
Saint-Gobain and U.S. server maker Super Micro Computer ( SMCI ), as part
of a broader investment push.
The state government on Thursday signed 97 agreements worth
674.52 billion rupees across sectors, creating more than 100,000
jobs and including investments by Indian businesses as well as
expansions at existing facilities.
This is the first investment conclave since
actor-turned-politician Joseph Vijay ended a decades-old duopoly
of two major parties to become chief minister in May. His
administration seeks to invite more business to India's top
manufacturing state.
The projects include a 20 billion-rupee investment from
construction group Saint-Gobain for a new plant and an
expansion of its Kanchipuram facility. Germany's Daimler India
Commercial Vehicles will also invest 40 billion rupees to expand
its Chennai factory.
Indian jeweller Titan has committed 10 billion
rupees to expand its operations, while Sri Lankan apparel
manufacturer MAS Holdings will invest 8.8 billion rupees.
Reuters reported on the news earlier on Thursday, citing a
government source.
Other investors include Hinduja Group, space startup Agnikul
Cosmos and e-motorcycle maker Ultraviolette.
The southern state's capital Chennai, often called the
'Detroit of India', is a major manufacturing hub, hosting
factories operated by Hyundai, Renault Group and TVS
Motor, as well as Apple ( AAPL ) suppliers such as
Foxconn and Tata Electronics.