Tamil Nadu

Cut in prices of SIDCO plots welcomed

Agrofood Chamber of Commerce and Industry has welcomed the announcement of Chief Minister M.K. Stalin to slash the prices of plots in SIDCO industrial estates, for which there were no takers on account of their high prices, by 5% to 75%.

This was the first time in the more than 50 years of service history of SIDCO that such a step had been taken. The move would help trade and industry recover from the paralysis caused by COVID-19 epidemic, said Chamber president S. Rethinavelu.

Tamil Nadu stood third next to Uttar Pradesh and West Bengal in distribution of small and micro enterprises. Eight per cent of the MSMEs were located in Tamil Nadu, and next to agriculture the MSMEs provided high employment opportunities. The reduction in the prices of plots in SIDCO industrial estates would enhance the industrial growth of Tamil Nadu.

Stating that most of the food industry units were small and micro enterprises, he said they preferred industrial estates, since there would not be any delay in obtaining various licences and getting power connection.

The Chamber requested the Chief Minister to fix sale price or rent of industrial plots in food parks, being established or planned in the State, at the most competitive rates in order to be attractive for the MSME sector to go in for industrial investments.

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Printable version | May 17, 2022 3:49:58 pm | https://www.thehindu.com/news/national/tamil-nadu/cut-in-prices-of-sidco-plots-welcomed-madurai/article37900202.ece