Tamil Nadu

Defence Industrial Corridor nets ₹2,000 cr.


Thangam | Photo Credit: MOORTHY G

Since its inception in January 2019, the Tamil Nadu Defence Industrial Corridor (TNDIC) has managed to bring in ₹2,116 crore in investments.

According to the data provided by the Tamil Nadu Industrial Development Corporation Limited (TIDCO), during the launch of this corridor that comprises Chennai, Coimbatore, Tiruchi, Salem and Hosur, ₹3,123.5 crore in investments were committed by 10 companies. Of this, ₹966 crore has already been invested.

In addition, after the launch of this corridor, several firms came forward and evinced interest in investing in this venture.

Around 29 companies, including government organisations, have committed themselves to investing ₹8,226 crore, of which ₹1,150 crore has already been invested.

Asked about the update on TNDIC, Minister for Industries Thangam Thennarasu said the TIDCO had signed an MoU with GE Aviation for setting up a Centre of Excellence (CoE) at an estimated investment of ₹140 crore for the design and development of aircraft engine components.

“Three more proposals for setting up CoEs are in the advanced stage of finalisation by the TIDCO with a total investment of ₹900 crore,” he said.

The Minister said the DMK government had inked a few deals in the defence and aviation sectors during Investment Conclave 2021 that was held in Chennai last month.

Land acquisition

Land acquisition is in progress for the new defence industrial park near Sulur. Around 500 acres will be needed for this park. Around 1,000 acres of land have been identified for the defence industrial park at Annur.

In addition to this, the TIDCO has earmarked around 700 acres in five locations for the aerospace and defence industries.

Details provided by the TIDCO show that land acquisition activities have commenced for the ISRO satellite launch station at Kulasekarapattinam in Thoothukudi district.

It will be established at an estimated investment of ₹2,000 crore.

This new infrastructure, along with the ISRO’s propulsion complex at Mahendragiri, will further enhance the State’s position in the space sector.

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Printable version | Feb 22, 2022 6:42:39 am | https://www.thehindu.com/news/national/tamil-nadu/defence-industrial-corridor-nets-2000-cr/article35794953.ece