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1 minute read

Thoothukudi, Tamil Nadu gears up to host Rs 75,000 crore petrochem unit

Thoothukudi is all set to snap another mega deal, this one involving a massive USD 9 billion investment, as the State government is in the final stage of formalizing the setting up of a world-class petrochemicals facility in the port city in the South.  

The project is mooted by the Sakthi Group of Companies of Coimbatore, which has already signed a facilitation agreement with UK’s Lamant, that will usher in the foreign direct investment (FDI) through a Qatari association.

The in-principal agreement for the USD 9 billion has been signed. We are waiting  to complete the package and other terms and conditions, ” T. Raijkumar, Director at the 90-year-old diversified group, told DT Next, adding the deal is scheduled for February-end as the nitty gritties are getting finalised.

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