A technical study for developing three Industrial Corridors of Excellence (ICE) along national highways in the State has been completed, P. Thangamani, Industries Minister, told the Assembly on Friday.

The study was undertaken by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) through consultants for the creation of Chennai-Sriperumpudur-Ranipet-Hosur, Madurai-Tuticorin and Coimbatore-Salem ICEs. SIPCOT planned to create industrial parks along the Madurai-Tuticorin corridor to develop the industrially backward southern districts.

A land bank of 20,000 acres would be created for promotion of more industrial parks in the south. SIPCOT had identified an additional 25,000 acres for development in the backward districts of the State.

The process of acquiring 8,075 acres of land was on for new industrial complexes and parks in Sriperumdudur, Cheyyar, Tuticorin, Madurai, Oradagam and Tindivanam. The Minister also announced a Rs. 39- crore package for procuring new machinery, like twin roll press and rewinders, for the Tamil Nadu Newsprint and Papers Limited.

The three per cent interest subsidy provided by the Tamil Nadu Industrial Investment Corporation to tiny, small and medium industrial units would be extended for another three years, the Minister said and added that the subsidy would be applicable for all term loans advanced by TIIC.

The Tamil Nadu Salt Corporation achieved a record production of 1.77 lakh tonnes in 2012-13 and in order to improve the quality of salt, a salt washery with 100 tonnes’ capacity would be procured at a cost of Rs 1.5 crore. The government would introduce e-tendering in the transactions of Tamil Nadu Cooperative Sugar Federation.