Chennai

PMK leader Anbumani Ramadoss on Friday claimed that the Tamil Nadu Cabinet approved the 2023 project proposal of Hyundai on February 5, thus exposing the reality of the investment scenario in the state.

Referring to state Industries Minister T R B Rajaa’s Thursday press briefing that the Cabinet approved 15 new industrial investment projects worth Rs 34,237.39 crore, Anbumani said the ruling DMK has been claiming that over 80 per cent of the 1,176 industrial investment proposals for a total commitment of Rs 12.16 lakh crore signed by the Tamil Nadu government have been implemented so far.

"But the industrial investment projects approved by the Cabinet at its 23rd meeting are the best evidence to prove that all of them are lies," Anbumani said in a statement here.

The first project approved by the Cabinet with Chief Minister M K Stalin in the chair was the Hyundai car plant expansion project. The company signed two MoUs with the Tamil Nadu government regarding the expansion of its plant, he claimed.

The first MoU for Rs 20,000 crore was signed in the presence of Stalin in Chennai on May 11, 2023 for the expansion of the Hyundai car plant in Irungattukottai for manufacturing electric cars.

The second agreement was signed at the Global Investors Conference in Chennai on January 7, 2024. This agreement for Rs 6,180 crore was also related to the expansion of Hyundai car company. "These MoUs totally worth Rs 26,180 crore have not yet been implemented. I have pointed out many times that not even Rs 500 crore of the promised amount has been invested yet," Anbumani alleged.

"The DMK government has been repeatedly spreading lies that more than 80 per cent of the investments have been implemented," he said.

The fact that Hyundai's investments were approved in yesterday's Cabinet meeting alone made it clear that the investments made by that company based on the MoUs have not been implemented till date. "No other evidence is needed to prove that DMK has been telling lies from the beginning regarding industrial investments," the PMK leader alleged.

The two other industrial investments approved in yesterday's Cabinet meeting were Kaynes Circuit India and Chennai-based Radha Engineering for an investment of Rs 4,995 crore and Rs 1,500 crore, respectively, signed at the investors' conference held in Thoothukudi on August 4, 2025.

Similarly, the MoU for Rs 5,000 crore investment by Evervan Kothari Company was signed on February 26, 2025, and a MoU for Rs 1,300 crore was signed with Johnson Electric Company on November 25, 2025. Since the proposals were approved only yesterday, the DMK government has admitted that these investments have not yet been implemented.

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He alleged that out of Rs 12.16 lakh crore MoUs signed since DMK came to power in 2021, only less than Rs 1 lakh crore of investments - a mere 8.20 per cent of the total value - have materialised.

"However, the DMK government is trying to create the illusion that all industrial investments took shape. The mask of the DMK government has now been torn off," he said in the statement and added that the truth was that no substantial project was implemented in the last five years.