One of the largest conglomerates of South East Asia, Texmaco Group, based in Indonesia, has expressed interest to set up a tractor assembly unit near Madurai. This is in response to the invitation extended to industrialists in Indonesia and other South East Asian countries to invest in south Tamil Nadu by the Union Minister for Chemicals and Fertilizers, M.K. Alagiri, during his recent visit.
The Minister, accompanied by a delegation from Texmaco Group, inspected a site on the Melur-Sivaganga road at Ambalakaranpatti for setting up an industrial unit on Friday. Mr. Alagiri thanked the founder of Texmaco Group, M. Srinivasan, for immediately responding to his invitation and accepting to invest in an automotive industrial unit. He was confident that the proposed unit would be a boon to the people of the district and provide employment to over 3000 people. Mr. Srinivasan, whose roots are in nearby Sivaganga district, said that the unit would provide tractors to farmers at Rs. two lakh. His objective was to bring down the cost of agricultural production and in this direction the unit would also manufacture farm equipment, like cane cutters. “It will manufacture all kinds of agricultural equipment at affordable prices,” he said. Mr. Srinivasan was hopeful that the factory would be able to go on stream by the end of 2010.
The District Collector, N. Mathivanan, said that acquiring the required land on a stretch of 266.14 acres would be easy as it belonged to the Revenue Department. It was ideally located on the State highway and there would not be any need to invest in creation of infrastructure facilities. Those who accompanied the Minister included R. Sharan, Director, Best and Crompton.