Petronas To Invest Rs 34,000 Cr in Tamil NaduTop Stories

May 17, 2023 15:57
Petronas To Invest Rs 34,000 Cr in Tamil Nadu

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Tamil Nadu cabinet led by Chief Minister MK Stalin has approved the investment of about Rs 35,000 Cr into Tamil Nadu from Malaysian Petroleum Nasional Bhd, popularly known as Petronas. This is a major investment in recent times. Petronas going to invest Rs 34,000 Cr in Thootukudi to produce green hydrogen. It is reportedly seeking land of 10,000 acres for the development.

Tamil Nadu Government has got the investment from Japanese giant Mitsubishi also. CM Stalin and Minister Thennarasu, who attended the World Economic Forum had discussions with Petronas and Mitsubishi and got the investments to their state. Last week, Mitsubishi announced Rs 1891 crore investment in Tamil Nadu towards opening an air conditioner and compressor manufacturing plant. The foundation stone was laid in Thiravallur, which will provide 2000 jobs to the public. Mitsubishi set up a plant Tamil Nadu, India after Japan, Thailand, China, UK, Turkey, and Mexico

Chief Minister MK Stalin approved five major investments into the state on the May first week cabinet meeting along with US-based Caterpillar. A Swiss-based company XyloNetic, a wood manufacturing company will also invest Rs 700Cr in the SIPCOT estate in Thoothukudi. The cabinet also extended the operational period of Wonderla Amusement Park near Chennai.

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Petronas  Tamil Nadu