CHENNAI: Tamil Nadu would soon come out with a aerospace and defence policy aimed at benefitting companies planning to invest in these two sectors, Chief Minister K Palaniswami said on Saturday.

"I am happy to inform that the state Government, along with Tamil Nadu Industrial Development Corporation, is engaged in setting up an aerospace park on 267 acre land in Sriperumbudur", he said.

"As a next step, a new aerospace and defence sector policy will be released soon" he said at the third edition of Southern Regional Council Meeting, organised by industry body CII.

Referring to 98 MoUs that attracted Rs 2.42 lakh crore investments in the maiden Global Investor Meet held in 2015 by the late Chief Minister J Jayalalithaa, he said 61 projects worth Rs 62,738 crore are in various stage of implementation.

"Through this initiative, 76,777 new jobs have been created", he said.

Palaniswami said the second edition of the event would be conducted in 2018 following the success of GIM 2015.

On the status of Foreign Direct Investments in the state, Palaniswami said Tamil Nadu attracted Rs 1.25 lakh crore of FDI between May 2011 and December 2016.

As per information provided by the Centre for Monitoring Indian Economy, the assured total number of investments in the State between 2011-17 was Rs 3,07,457 lakh crore, he said.

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Tamil Nadu will draft aerospace and defence policy: Chief Minister - Times of India