Fortune 500 cos to invest up to Rs 20k cr in TN in 6 months

**Chennai:**The Tamil Nadu government on Thursday said some of the Fortune 500 companies among others have proposed to invest up to Rs 20,000 crore over the next six months in the state.

Further, Chief Minister Jayalalithaa would soon unveil the New Industrial Policy 2012, Industries Minister P Thangamani told the state Assembly. “Due to the efforts of the Chief Minister, top-notch investors, including those part of Fortune 500 are eager to establish their business in the state to the tune of Rs 20,000 crore in the next six months,” he said.

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Further, talks are on to woo more investors, he said, replying to the grants for his department for 2012-13.Quoting statistics from the Centre for Monitoring Indian Economy (CMIE), Thangamani said the proposed investments in the state till the end of March 2011 was over Rs 9.18 lakh crore with proposals for an additional Rs 1.52 lakh crore between April, 2011 and March, 2012. Claiming that the AIADMK government had ushered in industrialisation since 1990s, he said the previous DMK regime had delayed land allotment to companies, including Ashok Leyland, after signing agreements.

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“While they signed the MoU with Ashok Leyland in 2008, land allotment was made in January 2011,” he said adding it was the case with some others, including Caparo and Mosarbaer. Further, he said proposals were under consideration for the creation of landbanks over 16,400 acres in six districts for industrialisation purposes which would be expanded to 20,000 acres.

PTI