Rs.1 crore investment for one job in Tamil Nadu

By IANS,

Chennai : A Rs.1 crore investment for one job seems to the formula for seven of the 15 companies which signed memoranda of understanding (MOU) with the Tamil Nadu government here Friday.


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While the cumulative investment proposed by the 15 investors is Rs.5,081 crore generating 8,332 jobs, in the case of seven projects the job-investment ratio is 1:1.

According to the statement issued by the state government, consumer durable maker Unity Appliances Ltd has proposed an investment of Rs.1,000 crore and the job generation is 1,000.

Semi-conductor maker TAPP has agreed to invest Rs.500 crore and the job generation is 500.

Similarly, the other investors with around 1:1 investment-employment ratio are: Vardhaman (investment Rs.300 crore, employment 300); HLL Bio-Tech (investment Rs.594 crore, employment 500); Koyama Precision Works India Pvt Ltd (investment Rs.100.09 crore, employment 100); BSH Household Appliances (investment of Rs.350 crore, employment 400) and Hitachi, Japan (product auto-parts, investment Rs.350 crore, employment 450).

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