The Unit Approval Committee (UAC) of MEPZ SEZ, chaired by Alex Paul Menon, Development Commissioner, MEPZ SEZ, on Tuesday approve several investments amounting to ₹3200 crore. These investments are expected to create 7700 jobs across different industry segments.
Among the approved investments are High Glory Footwear India Pvt Ltd, a subsidiary of Taiwan-based Pou Chen Corporation stands out with a ₹2,850 crore commitment to establish a new unit within the SIPCOT SEZ, Kallakurichi. This investment is expected to generate an impressive 5,229 new jobs to boost the region’s economy, says a release.
The committee also approved investments for a diverse range of companies, including OLAM Agri Business Services Pvt Ltd in IT-ITES; Qualcomm India Pvt Ltd in service sector; Ampturn Electrical Products Pvt Ltd, and Tata Consultancy Services (Unit-101).
The investments span sectors like warehousing and logistics, creating thousands of new job opportunities. The UAC also approved investments for two new Export-Oriented Units (EOUs): Aadhi Granites India Pvt Ltd and Vevin Granites Pvt Ltd, both in the granite processing industry, the release said.
In a move to enhance the investor and exporter experience, the UAC now ensures that qualifying units receive their Letters of Approval (LOA) on the same day during the review of the UAC meeting. This efficient process allows units to begin construction and operations more swiftly.
“We are committed to making the investment process as efficient as possible,” said Menon. “The speedy process and issue of LOA on the same day aligns with our focus on ease of doing business and will undoubtedly attract new units to our industry, accelerating job creation.”