GIM enters second day, leading firms commit to invest in TN

Today is the second and last day of Tamil Nadu Global Investors Meet 2019, which started in Chennai on Wednesday. Top officials of leading companies from across the world are taking part in the high profile event and are making commitments to make investments in the State. Indian Oil has signed a Memoranudm of Understanding (MoU) with the Tamil Nadu government at the GIM for an investment of Rs 7,941 crores in the next five years. R Sitharthan, Executive Director (I/c) and State Head for  IndianOil (Tamil Nadu and Puducherry) signed the MoU with the government.

According to Sitharthan, this investment of Rs.7,941 crores would be in time frame of next five Years which would generate direct employment opportunity to 9,200 people and indirect employment to around 10,600 people. Speaking at the inauguration of the GIM on Wednesday, Chief Minister Edappadi K Palaniswami said the target has already been exceeded.

He said he would make an announcement on Thursday on the resounding success of the meet and the investments garnered. He added: "Encouraged by the success of GIM-2015, the Government has organised the Second edition of GIM. If the response we have received is any indication, GIM-2019 is not only a grand success, but will be remembered as a historic event in the annals of industrialisation of Tamil Nadu."