Japan is setting up a major industrial township project in Mahabilipram, in Tamil Nadu, even as the state has emerged the key destination for Japanese business in India.
The industrial township project, named Omega, jointly promoted by Ascendas and Japanese investors will come up on a 1,450-acre area over the next 10 years.
The first phase of the project will come up on 400 acres and will be ready within four to five years, a Japanese official associated with the project said.
He said about two-thirds of the land for the project has already been acquired and all necessary agreements are being finalised.
Meanwhile, the number of Japanese industrial units in Tamil Nadu has grown four-fold, from 65 companies in 2006-07 to 245 companies at present, state industries secretary N Sundaradevan said.
Tamil Nadu has emerged a hub for Japanese Industries and the number of Japanese industrial units in the state may well top 300, he added.