labels: economy - general
Tamil Nadu to set up electronics export center, TIDEL-III Parknews
08 May 2007

Mumbai: The Tamil Nadu government has unveiled plans for setting up an electronics export centre and a TIDEL-III Park, which would jointly attract initial investments of around Rs1,300 crore.

Announcing this, Tamil Nadu chief minister M Karunanidhi said since several multinational companies (MNCs) have evinced interest in setting up facilities in the state, the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) would set up the export centre, which would come up on 285 acres of land at the Oragadam industrial area.

The facility would function as an export base for IT and ITeS sectors and provide direct employment to about 23,000 people, he said.

The proposed TIDEL-III Park, involving investments of around Rs800 crore, would be implemented as a joint venture with private investors, he said.

To be spread over 25 acres at Taramani, the TIDEL-III Park project would include an International Convention Centre. The park would provide employment to 12,000 software professionals, Karunanidhi said.

He said the centre had granted in-principle approval for establishing a multi-product special economic zone (SEZ) at Nanguneri in Tirunelveli district.

Two promoters, including a US-based firm, would implement the project, estimated to cost Rs1,025 crore.

The project is expected to generate exports of up to Rs9,000 crore in the next ten years. It would also provide employment opportunities to 50,000 people, he said.

Karunanidhi said the government would also set up a tertiary treatment and reverse osmosis plant to recycle effluents generated at industrial estates at Sriperumbudur, Irungattukottai and Oragadam areas.

The project, to be implemented at a cost of Rs500 crore, would fully cater to the water requirements of industrial houses in two years, he added.

The chief minister also announced expansion of the industrial park at Cheyyar in Tiruvannamalai district to 2,250 acres. Similarly, the Industrial Development Centre at Perundurai in Erode district would also be expanded, he said.

The Tamil Nadu Industrial Development Corporation would invest 11 per cent in the Rs500 crore bio-IT park, to be jointly set up by the Software Park of India and Singapore-based Ascendas. The project would provide employment opportunities to about 8,000 people, he added.

>

align="left">


 search domain-b
  go
 
Tamil Nadu to set up electronics export center, TIDEL-III Park