Amid the Coronavirus outbreak and the lockdown triggered by the pandemic, the state of Tamil Nadu has, on Monday, signed eight new memorandums for the new investment projects in the state and the latest edition of signing the investment projects is the second in the lockdown while first such session of bringing more investments to the state was held in May.

According to the reports, these eight new Memorandums of Understanding (MoUs) have been signed in the presence of Tamil Nadu Chief Minister Edappadi Palaniswami. The press release stated that five MoUs were signed physically in the presence of the Chief Minister whereas the rest three were signed virtually. 

According to the government's press release, the investment expected through the MoUs is Rs 10,399 crore and it would also be providing employment opportunities for 13,507 people and the new projects will be implemented in Erode, Coimbatore, Villupuram, Ranipettai, Kancheepuram, and Chengalpattu districts. 

The signed MoUs include the investment of Rs 5,423 crores from Vikram Solar to establish a project for the manufacture of solar cells and modules in Indospace park in Oragadam in the outskirts of Chennai. A data center project in Singaperumal Koil in Chengalpattu district with an investment of Rs 4,000 crore and this project has the capability of employing around 2,500 people.

Another MoU has been signed for Rs 250 crore investment to establish the industrial park project in Walajabad in Kancheepuram district. These project implementations would be of different corridors and establishments. A proposal of establishing a cashew nut processing unit in Marakkanam in Villupuram district has been made while a factory manufacturing air compressors and a foundry expansion project have been planned in Coimbatore and Erode districts respectively.

On May 27, the Tamil Nadu government has signed 17 MoUs with the investment proposal of Rs 15,128 crores with the companies from the US, UK, Germany, France, the Netherlands, Finland, France, Germany, Japan, China, Australia, Korea, and Taiwan. These MoUs are also aimed to create job opportunities for 47,150 people. 

According to the reports, the government would be installing a High Powered Committee to work on giving clearances for the projects and this committee will be chaired by the Chief Minister while the government would also set up a Special Investment Promotion Task Force under the leadership of the Chief Secretary.