As part of its plan to set up industrial estates across the southern districts of Tamil Nadu, the state industrial department is planning to develop one in Madurai.
The estate is expected to come up on 2,000 acres and would focus on the manufacturing industry, especially on automobile component manufacturers. It is likely to attract investments to the tune of over Rs 500 crore initially, according to a senior government representative.
Tamil Nadu currently has 78 industrial estates, and the government is targeting to take this number to 100.
He said the state was becoming a hub for automobile manufacturers with companies like Ford, Hyundai, Renault, Nissan, BMW, and Mitsubishi having their manufacturing units here. The new park would attract suppliers and SMEs would will be the backbone for the manufacturers.
During the current year, Tamil Nadu plans to sign MoUs involving an investment of over Rs 30,000 crore, some of which had already been signed. In the last two years, the state signed 14 MoUs worth Rs 18,400 crore.
“As most of these projects have come in and around Chennai, it is now time for the government to look at other parts of the state. Districts which have been identified to promote such estates include Tiruvarur, Kancheepuram, Villipuram, Salem, Erode, Dharmapuri, Vellore, Krishnagiri, Tiruvannamalai, Perambalur, Tirupur and Coimbatore,” he said.
The government through its agency — State Industries Promotion Corporation of Tamil Nadu (Sipcot)— would acquire 2,000 acres in and around the town for the project, said MF Farooqui, state principal secretary – department of Industries.