Tamil Nadu government has allotted 300 acres land for National Automotive Testing Research and Development Infrastructure Project (NATRIP) at Oragadam, near Chennai. The new facility will be set up by the Union government with an investment of around Rs 450 crore. The government also said it is formulating a new automobile policy to boost investment in the automobile sector.
After inaugurating Renault Nissan Automobile India new facility, which is being set up by French car major Renault and Japanese car manufacturer Nissan at a cost of Rs 4,500 crore, M Karunanidhi, chief minister, Tamil Nadu said that this project aims at facilitating introduction of world-class automotive safety, emission and performance standards in India and also ensuring seamless integration of automotive industry with the global industry.
He added, considering the multiplier-benefit arising out of automobile projects, the government would continue to attract more automobile projects in the state to make Chennai as one of the top Ten centres for automobile manufacturing in the world.
Chennai had become the home of seven auto majors out of top 20 global automobile manufacturers, adding to the existing facilities by Daimler, Ford, BMW, Hyundai and Mitsubishi.
“Today, Chennai is emerging as Asia’s automobile capital. Establishment of these automobile projects in Chennai bears ample testimony to the favourable investment climate prevailing in Tamil Nadu”, he said, adding, with its investor-friendly policies, Tamil Nadu has been a forerunner in attracting a large number of domestic and foreign investors.
Quoting Oxford Analytica, an international independent consulting firm, Karunanidhi said Tamil Nadu was ranked as the most attractive investment destination among 28 States and two Union Territories.
During the last three and half years and despite the recent economic downturn, several industrialists have constantly come forward to make investments in the state.
Karunanidhi said his government had signed 25 MoUs and issued orders for another 12 industries since May 2006. “Total investments in these 37 industries will be about Rs 46,091 crore and they will create employment potential for 222,000 people directly and indirectly.’
He said despite, Chennai emerging as the largest automobile hub of India, it was lacking vehicle testing facilities, forcing the auto manufacturers to send their vehicles to Pune for testing and certification.
