Madurai

Military hardware manufacturing units to come up

Steps to acquire 1,500 acres of land near SIPCOT Industrial Complex here for establishing industrial units to manufacture military hardware and windmill spares were on, Collector K. Senthil Raj has informed.

Speaking at ‘loan mela’ organised by the Tamil Nadu Industries Investment Corporation (TIIC) here on Wednesday after handing over loans to the tune of ₹ 5 crore to five beneficiaries, he said acquisition of 1,500 acres of land near SIPCOT complex for establishing a military equipment manufacturing unit and windmill spares making company was under way.

The Collector said the government was keen on reviving the small and medium manufacturing units which had been hit hard by the COVID-19 outbreak as 30% of the country’s Gross Domestic Product was from this sector. Hence, the investors and the entrepreneurs already in the manufacturing industry should tap this opportunity for starting or expanding their units, he said.

He appealed to the borrowers to repay the loan with interest within the stipulated period.


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Printable version | Jan 26, 2022 11:57:45 AM | https://www.thehindu.com/news/cities/Madurai/land/article37898033.ece

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