Memoranda of Understanding (MoUs) worth ₹540.96 crore were signed with 117 entrepreneurs to start industrial units in Cuddalore district, at an investors’ meet of Micro, Small and Medium Enterprises (MSMEs).
The MoUs were signed on Saturday, November 25, 2023, in the presence of Minister for Agriculture and Farmers’ Welfare M.R.K. Panneerselvam and Minister for Labour and Skill Development C.V. Ganesan. They are expected to help in creating employment for 3,518 persons.
According to official sources, in the run up to the Global Investors’ Meet 2024 scheduled to be held in Chennai on January 7 and 8, 2024, investments to the tune of ₹546 crore has been targeted in Cuddalore district. According to the administration, so far, investments to the tune of ₹540.96 crore have been identified and memoranda of understanding have been inked.