Adani, HCL, MRF & ITC commit over Rs. 300bn in TN

HCL group founder Shiv Nadar said he expects to invest US$1bn in Tamil Nadu over the next five years on building two new centres at Madurai and Tiruneveli.

The country’s top industrial houses such as Adani, HCL, MRF and ITC have pledged investments worth over INR 30,000 crore in Tamil Nadu on the first day of the first Tamil Nadu Global Investor Meet (GIM) on Wednesday.

The Adani Group alone is planning to invest INR 10,000-15,000 crore in the state to set up power plants and ports.

Speaking on the sidelines of the event, Adani group chairman Gautam Adani said that the group is setting up a 650-MW solar plant in Tamil Nadu, which will be the largest in the world and will be operational by March 2016.

HCL group founder Shiv Nadar said he expects to invest US$1bn in Tamil Nadu over the next five years on building two new centres at Madurai and Tiruneveli.

MRF’s chairman K M Mammen said that the company is planning to invest ~INR 4,500 crore at Perambalur.

ITC has laid out an INR 25,000-crore investment plan for Tamil Nadu. The book value of ITC's current investment in Tamil Nadu is INR 2,400 crore.