Anil Ambani to invest Rs 12,000 crore in Tamil Nadu

Mumbai: Anil Dhirubhai Ambani Group (ADAG) chairman Anil Ambani has proposed Rs 12,000 crore investments in Tamil Nadu, including a multi-product SEZ, with power and desalination plants, IT park and a convention centre.

The SEZ will absorb a larger share of the investment. The Rs 10,000 crore multi-product special economic zone (SEZ) will have a dedicated 1,000 MW power plant and a desalination plant. The desalination plant would produce water equivalent to one third of the current shortage of water in Chennai city.

The rest of the investment will be used for setting up an information technology park and a world-class convention centre.

Ambani outlined the investment proposals during his meeting with chief minister M Karunanidhi.

"We are encouraged by the buoyancy of investment climate in the state and made two specific proposals for the consideration of the government," Ambani told reporters after the meeting. "People now look at Tamil Nadu as the IT destination of India. We look forward to working with the state government to progress our thoughts further," Ambani said.