First time investors show interest in units other than IT/ITES
ELCOT has 1,200 acres in Tiruvallur district
CHENNAI: Electronics Corporation of Tamil Nadu (ELCOT) has mooted setting up of separate corridors for prospective investors from Malaysia, Taiwan, Japan and Korea, following a spate of serious inquiries from them in the last few days.
The inquiries are being made by Malaysian and Korean companies that are interested in setting up electronic hardware firms. Taiwan wants to set up elevator unit, captive port and hardware firms. It is for the first time that these investors have evinced interest to set up units other than those connected with IT/ITES.
ELCOT officials, Additional Secretary, State Industries Department Dheeraj Kumar and Confederation of Indian Industry representative were in Taipei,
Tokyo, Seoul and Penang during the first two weeks of August to invite Information Communication and Technology players to take part in the Seventh edition of ‘Connect’ to be held here next month. Talking to The Hindu on Tuesday, ELCOT Managing Director C. Umashankar said “investors have been flocking to Tamil Nadu for quite some time to set up their units. But the mere presence of Flextronics near Sriperumbudur has attracted its channel partners and other electronic chip makers from the Asia Pacific region to house their units closer to it. Now, they are bent upon converting Sriperumbudur as Electronics capital of India.”
“ The investment from Malaysian firms alone would be in the range of Rs 1,000 crore,” he said.
Around 50 vendors from Malaysia want to have their units around Flextronics. They have sought 120 acres of land.
ELCOT has around 1,200 acres of land in Tiruvallur district. Around 50 per cent of it would be reserved for housing facilities and the remaining for industrial sites.