Considering the flow of investments from Japan and Korea, the State government will set up separate country-specific industrial parks with a complete eco-system, said Deputy Chief Minister M.K. Stalin on Monday.
Manifold
Laying the cornerstone for the new production facility of Toshiba JSW Turbine & Generators Pvt Ltd at Ennore, he said after the establishment of such parks, the investment inflow into the State would increase manifold.
Mr. Stalin said that he was happy to take part in the function, as it was the first Memorandum of Understanding to be signed by the company with the State government after he assumed the Industry portfolio.
Favourable destination
Tamil Nadu has become the most favourable investment destination for establishment of many multinational companies in the recent times. Out of the 620 Japanese companies that have their manufacturing base in India, 170 firms are in the State.
Thanking the Japanese government for extending financial assistance to the Hogenakkal Water Supply and Fluorosis Mitigation Project and the Chennai Metro Rail Project, Mr. Stalin said high-level delegations from Hiroshima Prefecture and Ministry of International Trade and Industry, Japan, would visit the State in the next few weeks.
Masachika Odawara, Director, Toshiba JSW Turbine & Generator, said their immediate aim was to complete the construction of the plant in time and sought the cooperation of the State government and local bodies in this regard.
“Toshiba JSW will promote local procurement of parts and materials for steam turbines and generators, an approach that is expected to make a significant contribution to expanding job and business opportunities in Chennai and India,” he said.
Full support
Atsuhiko Izumi, Executive Vice President, Toshiba Corporation Power Systems Company, thanked the State government for extending full support to the project and for providing infrastructure facilities.
“The construction has begun and with the laying of cornerstone it will become speedier. The commercial production will commence by January 2011. Initially, we will produce blades and nozzles and full production will start by 2014,” he said.
Steam turbines
Toshiba JSW would manufacture and market mid-to-large-sized steam turbines and generators, ranging from 500 to 1,000 megawatts for highly efficient supercritical thermal power plants in India.
