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The Hindu
The Hindu
National
Dennis S. Jesudasan

Cabinet approves investments worth over ₹35,000 crore

MK Stalin Udhayanidhi Stalin

Industrial projects that will bring in investments of about ₹35,000 crore were approved during a meeting of the Cabinet chaired by Chief Minister M.K. Stalin at the Secretariat on Tuesday.

The major investments include Malaysian energy major Petronas’ proposal to invest about ₹34,000 crore in Thoothukudi to produce green hydrogen, and Geneva-headquartered Swiss company XyloNetics’s to the tune of about ₹700 crore. XyloNetics is into manufacturing of woodwork used in furniture. The Swiss company would operate from the International Furniture Park at SIPCOT estate in Thoothukudi.

The Cabinet also cleared a proposal by a company that is planning to set up an electric vehicles unit with an investment of about ₹70 crore near Chennai.

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