Business

Ennore-Manali road project to be put on fast track

Tamil Nadu Chief Minister Jayalalithaa inaugurating Toshiba JSW Supercritical Steam Turbine and Generation Manufacturing Plant at Manali on Sunday. Norio Sasaki ,president Toshiba Corporation, Japan, Sajjan Jindal, CMD, JSW Energy Limited, Mumbai, Masanori Nakano, Consul General, Consulate General of Japan, Chennai and Susumu Atsuki, Director General, Ministry of Economic, Trade and Industry, Japan are in the picture. Photo: R. Ragu  

With more Japanese investors considering substantial investment in Tamil Nadu, the State government will take steps to expedite the Ennore-Manali Road Improvement Project, Chief Minister Jayalalithaa said on Sunday.

Promising that her government will extend its support to attract more Japanese investment both in manufacturing and infrastructure, she pointed out that of the 1,422 Japanese companies having operational bases in India, 286 were located in Tamil Nadu, with Chennai having 20 per cent of them.

Inaugurating the Toshiba JSW supercritical technology-based turbine and generator manufacturing facility at Manali, she expressed happiness that this state-of-the-art facility would help reduce the coal requirement for electricity generation.

“India is currently facing a problem of inadequate domestic manufacturing capacity for super critical turbines and shortage of power equipment, thereby delaying the implementation of power projects. Given this context, the plant of Toshiba-JSW assumes considerable importance.”

Tamil Nadu has been identified as one of the States with the most potential for Japanese investments. Hence, a Bilateral Economic Co-operation Agreement had been signed to foster the economic relationship between Tamil Nadu and Japan. Besides, the Japanese External Trade Organization has signed an economic Co-operation MoU with the State Guidance Bureau, she said.

According to her, Japanese companies have been evincing interest mainly in the manufacturing sector. Tamil Nadu is a leading State in India in this sector, chiefly because of the automobile and component industry. The auto sector accounts for about 60 per cent of Japanese Foreign Direct Investment in Tamil Nadu.

A favourable investment climate, with relatively cost-effective and high quality infrastructure, offered the ideal platform for foreign investors to establish their production base in Tamil Nadu. Site evaluation studies by several global players had found Tamil Nadu to be the “destination of choice” for Japanese investors.

Japanese companies are evincing interest in investing in infrastructure projects too and a number of projects for co-operation had been identified.

The State government was very keen to upscale bilateral co-operation between Tamil Nadu and Japan by implementing various infrastructure initiatives.

Itaru Ishibashi, Managing Director of the company, said that the plant would manufacture steam turbines and generators for leading edge thermal power plants in generating capacities ranging from 500 MW to 1000 MW. It would have an annual production capacity of 3,000 MW by the end of financial year 2012. Over the next three years, the workforce would be increased from about 200 to 500.

Later talking to reporters, Mr. Ishibashi said that it would cater to Indian customers and later to South-East Asia and the Middle East.

Norio Sasaki, president and CEO of Toshiba Corporation, said that this would become an essential hub to sustain the long-term growth of the company's thermal power plant system business.

Sajjan Jindal,Chairman and Managing Director, JSW energy Limited, said establishing this power equipment manufacturing facility in India was in line with “our long-term vision to be present in the entire value chain of power business, from equipment manufacturing, generation, transmission, power trading and distribution”.




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Printable version | Jul 30, 2021 5:36:29 AM | https://www.thehindu.com/business/ennoremanali-road-project-to-be-put-on-fast-track/article2885860.ece

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