New Industrial Parks, Corridors to Propel Growth of Southern Districts says Tamil Nadu Deputy CM Madurai

The Government of Tamil Nadu has proposed to set up new industrial parks - one at Thirumangalam, Madurai (1478 acres) and the other at Thoothukudi (1533 acres) to enhance industrial development of Southern Districts. The new industrial parks would provide job opportunities to 1 lakh youth of Southern Districts in Tamil Nadu said Dr. M K Stalin, Deputy Chief Minister, Government of Tamil Nadu, whose speech was read out at the 3rd edition of the SPEED “Southern Prosperity through Enhanced Economic Development” organized by Confederation of Indian Industry (CII) in Chennai Today.

Dr Stalin said that the Government would also take steps to develop Madurai – Thoothukudi National highway into an Industrial Corridor to promote industrial development in Southern Districts of Tamil Nadu.

Dr Stalin highlighted the various incentive packages offered by the Government of Tamil Nadu for large, medium and small scale industries to boost investments in Southern Districts of Tamil Nadu. Outling the key investment proposals from the private sector, he said that the Indonesia based Sundareswarar Alloy and Steel Company is planning to invest Rs 2200 Crore for setting up their 5 industrial units in Southern Districts; investment proposal by Syntel to set up a 100 acre IT Park at Gangaigondan, Tirunelveli District and the Government is also in talks with Synergy, to setup a Photovoltic Cell plant in Nanguneri SEZ with an investment of Rs 1500 crore, said Dr Stalin.

In his special address, Mr. Rajeev Ranjan, IAS, Principal Secretary - Industries Department, Government of Tamil Nadu said that Tamil Nadu has done extremely well in terms of attracting new investment in view of its investor friendly policies. He said that the State has signed MoU for 31 projects besides 16 other agreements for a total investment of Rs.57,000 crore.

Mr Ranjan said that the Government of Tamil Nadu has taken specific steps to promote investments in Southern Disticts. For investments between Rs. 50 - 100 Crore, the Value Added Tax (VAT) payable by companies for a period of 3 years are being treated as loan. Besides this, there are several other incentives that are being offered to companies planning to invest in Southern Districts, said Mr Ranjan. He also said that under the Petroleum, Chemicals, Petrochemical Investment Region (PCPIR) programme of the Government of India, huge investment are expected to come into the Southern Districts of Ramanathapuram and Cuddalore.

Mr. T Kannan, Chairman, SPEED & Managing Director, Thiagarajar Mills Ltd in his theme address said that Southern Districts have huge potential and the Tamil Nadu Government has done a lot in terms of investment packages, but it needs to revise the packages so as to attract more companies in the small and medium sector with an investment of Rs. 25 – 50 crores. The Government should also facilitate in getting 1 mega project in Southern District to enhnace growth, said Mr Kannan. Elaborating on the opportunites in Southern Districts, Mr Kannan said that Madurai and Sivaganga could become a centre for tourism, heritage and crafts; Tirunelveli as a BPO hub; Tuticorin as an energy hub besides other key sectors which has the potential to drive the overall growth of the State.

Ms. Nandini Rangaswamy, Chairperson, CII Tamil Nadu & Managing Director, Chandra Group in her special address said that Tamil Nadu is the 3rd largest economy in the country, it has a huge potential to improve its industrial base. The State has several factors of growth like skilled manpower, industry favorable policies, good infrastructure besides a hub for various industry sectors.

Mr. R Dinesh, Co Chairman, SPEED & Joint MD, TV Sundaram Iyengar & Sons Ltd earlier welcomed the gathering and Dr. S Aravind, Chairman, CII Madurai Zone & Administrator, Aravind Eye Hospital gave the closing remarks.