Tamil Nadu to set up financial city near Chennai

The Tamil Nadu government plans to set up a 'financial city' near Chennai, deputy chief minister M K Stalin, informed the state assembly.

Built in partnership with private parties, the financial city will seek the presence of banks, insurance companies, mutual fund firms, and stock market players, he said.

According to reports, some 75 to 100 acres of land may be required to accommodate the city structures and tow locations have been identified for the same.

Stalin said the city would be equipped with necessary facilities and would provide schools, medical services, housing and leisure related services for the workers. Tidel Park in the state today is an attractive area for IT companies.

C K Ranganathan, chairman of TN State Council, CII, said that CII will support the project.

Stalin also announced other developmental plans for the state. These included an integrated aerospace park, an entertainment- cum-communication technology park, affordable housing, a state manufacturing competitive council, and developing sector focussed policies.