Tamilnadu Industrial Development Corporation has identified 180 acres of land in Sholinganallur – Perumbakkam villages for the proposed Financial City.
Deputy Chief Minister M.K.Stalin who inspected the proposed site on Saturday, told newsmen that the Financial City would offer world class infrastructure that would initially focus on attracting core financial activities such as banking, insurance, re-insurance, risk management, actuarial services, wealth management services etc.
The City could also house IT product and solution vendor teams to specifically cater to the needs of these financial institutions and also include IT infrastructure management and customer servicing for the financial institutions. It would also have training centres, staff training colleges and relevant educational institutions.
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Mr. Stalin said the project was likely to be implemented in phases based on the recommendations of the feasibility study. The Government was studying other financial cities, including the one in Singapore.
The Deputy Chief Minister was accompanied by his Secretary K.Deenabandu, M.F.Farooqui, Principal Secretary, Industries Department, Anita Praveen, Chairperson and Managing Director, TIDCO, and Kancheepuram District Collector Santosh K. Misra.