CHENNAI: Work on a multi-storied manufacturing complex for micro industries at Ekkattuthangal will start soon, according to chairman and managing director of the Small Industries Development Corporation (SIDCO), D. Rajendran.
The ‘flatted complex,’ promised in the government’s Micro, Small, Medium Industries (MSMI) policy, will come up on 1.21 acres and consist of 240 built-up modules over four floors, according to a SIDCO proposal. Each module will have an area of 400-600 sqft, he said.
The project proposal, sent by the SIDCO for the government’s approval, is being looked at by the Small Industries and the Finance departments, said P. Selvam, secretary, Micro, Small and Medium Enterprises department.
The final orders would be issued soon after working out details of the cost.
SIDCO has suggested a price of Rs.3,500 a sqft, which would amount to a considerable subsidy when compared to market prices, Mr. Rajendran said.
The flats would be offered on outright sale with loans made available through a consortium of banks, including the Small Industries Development Bank of India (SIDBI), the Tamil Nadu Industrial Investment Corporation (TIIC) and others.
This move will come as a boon for the nearly 1,200 micro industries in Ekkattuthangal.
A survey by Tamil Nadu Small and Tiny Industries Association (TANSTIA) last year had found that 1,016 units were functioning from cramped quarters in an area of five acres.
“These units provide employment to over 5,000 people, but still they are neglected. The building of the flatted complex will act as a good first step in promoting the welfare of the micro industries sector,” A. Shanmugavelayuthan, president, TANSTIA, said.
As part of the MSMI policy, flatted complexes will also be taken up at Ambattur, Perungudi, Thirumazhisai etc.