New Delhi: Singapore has announced plans to invest in Tamil Nadu’s green economy and sustainability sector at the Tamil Nadu Global Investors Meet 2024. According to a statement from the High Commission of Singapore in India, Singapore and its companies will strengthen economic cooperation. Tamil Nadu State.
This will happen through expanded investment in Tamil Nadu’s green economy and sustainability sector as well as infrastructure development (including data centres, IT parks and logistics). These investments will be announced during the Tamil Nadu Global Investors Meet (TNGIM) to be held in Chennai on January 7 and 8, 2024.
Singapore will participate as the first partner country in TNGIM along with eight other countries. A dedicated Singapore Pavilion will be set up to showcase Singapore companies with a strong presence in the state.
It will involve a total of seven companies including Sembcorp, CapitaLand, YCH and Blue Planet in sectors such as renewable energy, waste management and logistics. The statement said that these companies also plan to increase their investment in Tamil Nadu.
Singapore’s High Commissioner to India Simon Wong will lead a delegation of officials and 60 business representatives to the TNGIM. High Commissioner Wong will deliver the opening address at the Singapore Seminar, which will be held on January 8, 2024.
He said that Tamil Nadu has the potential to become a major partner for Singapore in exploring the export of promising renewable energy solutions such as green hydrogen and green ammonia from India to Singapore.
The Singapore seminar will feature in-depth conversations with business leaders on partnerships and collaboration for a greener future. The panel will include Singapore CEOs from Sembcorp Industries, Capitaland Investments, Blue Planet Renewables and EnvironSense.
Several new Memoranda of Understanding (MoUs) will be concluded and signed between Singapore companies and the Government of Tamil Nadu (Guidance TN) at TNGIM.
These MoUs, with a total investment of over S$5 billion or Rs 31,000 crore, indicate Singapore’s continued interest and confidence in taking advantage of new opportunities in the state.
For example, to take advantage of the rapidly growing opportunities in India’s digital economy, CapitaLand has committed to additional investment in Chennai, which will be deployed in a business park, logistics, warehouses and a data center, the statement concluded. Removed.
