Tisco signed a Memorandum of Understanding (MoU) with the Tamil Nadu Government for setting up an integrated titanium dioxide project either at Tirunelveli or Tuticorin district at a cost of Rs.2,000 crore. Under the MoU, Tisco would undertake a techno-commercial feasibility study immediately and would take steps to set up the project in 30 months. The project, when completed, would provide direct employment to 1000 persons and indirect employment to over 2000 persons, an official press release said.