According to a statement from India’s High Commission of Singapore, Singapore and its companies will strengthen economic cooperation with Tamil Nadu.
This will be done through increased investment in Tamil Nadu’s green economy and sustainability sector and infrastructure development (including data centres, IT parks and logistics) sector. 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 join eight other countries as TNGIM’s first partner country. A dedicated Singapore Pavilion will be set up to showcase Singaporean companies with a strong presence in the state. A total of seven companies will participate, including Sembcorp, CapitaLand, YCH, and Blue Planet, in fields such as renewable energy, waste management, and logistics. These companies also plan to increase their investments in Tamil Nadu, the statement added.
Mr Simon Wong, Singapore’s High Commissioner to India, will lead a delegation of officials and 60 business people to TNGIM. High Commissioner Wong will deliver the opening address at the Singapore Seminar on 8 January 2024.
He said Tamil Nadu could be an important partner for Singapore in considering the export of promising renewable energy solutions such as green hydrogen and green ammonia from India to Singapore. Singapore’s seminars feature hearth conversations with business leaders about partnerships and collaboration towards a greener future. The panel comprises the Singapore CEOs of Sembcorp Industries, CapitaLand Investment, Blue Planet Renewables and EnvironSens.
At TNGIM, several new Memorandums of Understanding (MoUs) have been signed and will be signed between Singaporean companies and the Government of Tamil Nadu (Guidance TN). These MoUs amount to a total investment of over S$5 billion, or over Rs31,000 billion, demonstrating Singapore’s continued interest and confidence in seizing new opportunities in the state.
For example, to capture the rapidly growing opportunities in India’s digital economy, CapitaLand has committed to further investment in Chennai, expanding into business parks, logistics, warehousing and data centres, the statement concluded. (Ani)
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