Stalin Calls UAE Visit A 'Success', Inks MoUs For Rs 6,100 Crore Investments & 14,700 Jobs In TN
Lulu Group will also set up food processing and logistics centres for procuring and processing agri-produce for exports to middle eastern countries
Chennai: Tamil Nadu Chief Minister MK Stalin termed his four-day visit to UAE a "success" after receiving Rs 6,100 crore investments aimed at creating 14,700 jobs.
In the first foreign trip, CM Stalin went to UAE on March 24 for a four-day visit along with his wife Durga Stalin, son Udhayanidhi Stalin, daughter-in-law Kiruthiga Udhayanidhi, son-in-law Sabareesan and ministers. During the visit, the CM inaugurated Tamil Nadu’s pavilion in Dubai Expo 2022 and attracted several investments to Tamil Nadu.
Among the memorandum of understanding signed, the biggest investment from the lot comes from LuLu Groups which is investing Rs 3,500 crore in Chennai and Coimbatore.
Apart from the LuLu groups, there are many more investors, including Nobel Steels, who will be investing Rs 1,000 crore, White House investing Rs 500 crore, Transworld investing Rs 100 crore, Aster DMK Healthcare investing Rs 500 crore and Sharaf Shipping investing Rs 500 crore.
Through the investments, Tamil Nadu also aims to generate 14,700 jobs.
In the biggest investment through UAE-based retail major Lulu Group, the Tamil Nadu government will set up shopping malls, hypermarkets and food-logistic park.
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As per the MoU, the first shopping mall will come up in Chennai by 2024, while the first hypermarket is expected to open by the end of this year at the Laxmi Mills compound in Coimbatore.
Lulu Groups will also set up food processing and logistics centres for procuring and processing agri-produce for exports to middle eastern countries.
A high-level delegation from Lulu will soon visit the southern state to finalise locations and related formalities.
"Our aim is to provide more than 15,000 direct and indirect job opportunities to Tamil youth in the next three years," Yusuff Ali, Chairman of Lulu Group said.
(With PTI inputs)
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