Malaysian Tamils prepare to invest Rs. 200 crore in Nanguneri SEZ

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Representatives of Global Organization of People of Indian Origin (GOPIO), who are scheduled to participate in the Global Investors Meet (GIM), to be held at Chennai in the second week of September, plan to bring a team of prospective investors from Malaysia to the AMRL Multiproduct Special Economic Zone, the State’s largest SEZ in Nanguneri near here after the meet.

“Since Tamil Nadu is all set to become a ‘Tiger Economy’, thanks to the conducive investment climate prevailing here now, our friends from Malaysia have planned to invest around Rs. 200 crore at AMRL Multiproduct SEZ. We have already weighed its potentiality and the growth prospects during our earlier visits.

The investments will happen very shortly after the GIM,” Selvarajoo Sundaram, chairman, GOPIO International, having his roots in Vellore, told The Hindu .

When a team from Tamil Nadu, including Industries Secretary, organised the ‘road show’ at Malaysia to popularise the GIM, the president of AMRL Nanguneri SEZ, Eshwar Rao met the GOPIO members and encouraged them to invest there.

To ascertain the potentiality of the industrial complex, the incentives being offered by the State and the Central governments to start units at SEZ, its advantages and infrastructure available there, a team of investors, led by Mr. Selvarajoo and GOPIO International’s Malaysia chapter president A. Ravendiran Arjunan, visited the sprawling 2,600 acre SEZ premises on a few occasions and are satisfied with the SEZ.

Since more than 85 per cent of the two million Indians in Malaysia are Tamils, still having strong cultural and religious bonds back home, the 26-year-old GOPIO, a not-for-profit organisation, encourages them to invest in Tamil Nadu to make it more vibrant.

The Malaysian investments will be made in electronic goods, doors and door frames, furniture manufacturing and social infrastructure.

“It will be a win-win situation for both the investors and Tamil Nadu, if the Malaysian investment proposals are cleared across the table as being done in Andhra Pradesh now,” he said.