Tamil Nadu

CM lays foundation stone for T.N. Polymer Park

The facility will come up at Puzhuthivakkam

Chief Minister Edappadi K. Palaniswami on Friday laid the foundation stone for the Tamil Nadu Polymer Park, a project of TIDCO and SIPCOT on 257 acres of land in Puzhuthivakkam in Tiruvallur district. With an investment of ₹217 crore, the Tamil Nadu Polymer Park is expected to attract investments of ₹3,000 crore and generate over 7,000 new jobs.

The Tamil Nadu Industrial Development Corporation (TIDCO) and the National Industrial Corridor Development and Implementation Trust (NICDIT) joined hands to develop the Ponneri Node of the Chennai-Bengaluru Industrial Corridor.

An agreement was signed between them at a diplomatic outreach event inaugurated by the Chief Minister.

Along with the Union Ministry of External Affairs, the State government had organised the event that showcased economic and investment opportunities in the State to diplomats from other countries.

Mr. Palaniswami inaugurated various projects with an investment of ₹1,254 crore and that could generate over 10,330 jobs, and agreements for these investments were exchanged in his presence. Hanon Automotive from Korea is to invest ₹500 crore at Malrosapuram in Kancheepuram district. Jogo Health, U.S., which initially signed an MoU for ₹15 crore had increased its investment to ₹250 crore. It was expected to employ 10,000 people.

Mitsuba Sical would be investing ₹504 crore in SIPCOT Industrial Complex in Gummidipoondi.

Facilitation MoU

A facilitation MoU was signed between Guidance Tamil Nadu and Developers Park – Japan for an investment of ₹800 crore creating 2,500 jobs.

The Chief Minister released a handbook on “Doing Business in Tamil Nadu” for investors. Mr. Palaniswami listed the investment potential of Tamil Nadu in the manufacturing sector, IT & ITeS, R&D, food processing and infrastructure. He explained the State’s export potential across sectors, including agriculture, dairy and fisheries.

The event saw the participation of diplomats from 36 countries, including Denmark, France, Japan, South Korea, Malaysia, Russia, Singapore, Thailand, the U.K. and the U.S.

Industries Minister M.C. Sampath, Ministry of External Affairs Secretary (Economic Relations) T.S. Tirumurti, Chief Secretary K. Shanmugam, and MD and CEO of NICDIT Sanjay Murthy were present.

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Printable version | Apr 4, 2020 6:18:14 PM | https://www.thehindu.com/news/national/tamil-nadu/cm-lays-foundation-stone-for-tn-polymer-park/article30884487.ece

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