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TN govt ambitious plan for aerospace park

PTI | 11:08 AM,Aug 21,2011

On setting up of the first Financial City, media and entertainment park near Chennai, Industries Minister S P Velumani said 187 acres has been identified at Sholinganallur and Perumbakkam villages near the 'IT Corridor' "Price Waterhouse Coopers (PwC) has been appointed as consultants for preparating a comprehensive development plan.Tenders for selection of a developer or a Joint Venture partner to develop the first phase of Financial City on 25 acres would also be floated", the policy note said. The Government has also alloted 7,900 acre for SIPCOT for allotment to industries. "..land acquisition is in progress. Accordingly 1,179 acres (in Tuticorin), Cheyyar(Vallam-Vadagal) 1,780 acres, expansion of Oragadam 616 acres, Madurai Industrial park 1,478 acres and a new industrial park at Villupuram district at 720 acres" have been sanctioned, it said. SIPCOT would thus be able to allot them to industries whenever required. SIPCOT has also allotted 100 acres to set up separate country-specific industrial clusters for investors from Japan, Korea, Finland, Germany and France to attract more foreign investments. "Under this proposal, acquisition of land in Sriperumbudur is in progress", it said. Tamil Nadu ranked fifth economy wise and has 26,122 factories and the value of industrial output was Rs three lakh crore in 2008-09, it added.