Tamil Nadu CM Woos Investors in Spain

Chennai, Jan 27 (PTI) Tamil Nadu Chief Minister M K Stalin embarked on an eight-day trip to Spain on Saturday to woo investors to the state.

During the overseas visit, he would engage some of the largest industrial companies, including ROCA and Gestamp, and the investment organisation Invest in Spain, in discussions and ensure investment into Tamil Nadu, he said.

"Through this trip, I hope to attract the attention of the European Union and bring a lot of investments from those countries as well," the Chief Minister told reporters at the airport here before leaving for Spain on an official visit to attract new industrial investments to Tamil Nadu.

His efforts are oriented towards making the state progress to become a one trillion dollar economy by 2030.

The Chief Minister would return to the city on February 7.

Recalling his past foreign trips, he said the visit to the United Arab Emirates led to the government signing MoUs for investments worth Rs 6,100 crore for creating over 15,000 jobs. Similarly, Singapore and Japan trips in May 2023, facilitated inking the pacts for investments worth Rs 1,342 crore for ensuring employment to more than 2,000 persons, thus totalling a commitment of Rs 7,442 crore through the trips.

Due to the speedy implementation, many companies including Omron and Mitsubishi from Japan, have started setting up their factories in Tamil Nadu. The foundation stone for Omron's factory was laid within two months of signing the MoU and civil work is apace, Stalin said.

Similarly, the Singapore firm CapitaLand has commenced setting up its project and the Emirati-based multinational conglomerate LuLu International Group, too, started its project in Coimbatore, he said.

"As has been done in Japan and Singapore, I will hold an investors' meet in Spain in which leading investors, business organisations and entrepreneurs from Spain are expected to attend," the Chief Minister said. He would highlight the favorable investment environment, infrastructure, and human resources of Tamil Nadu at the meet.