PM to inaugurate Tidel Park on July 4

CHENNAI, MAY 8. The Rs. 340 crore state-of-the-art software park, the Tidel Information Technology Park, coming up at Taramani here, will be inaugurated by the Prime Minister Mr. A. B. Vajpayee on July 4.

Disclosing this in the State Assembly today, the Chief Minister Mr. M. Karunanidhi, said the Tidel Park would be larger than the hi-tech city in Hyderabad. Sixty per cent of the 14-storeyed cyber-complex has already found takers from major global IT companies and 28 companies will start functioning in the park from the inaugural day.

The TIDCO-ELCOT joint venture has several attractive features including the third largest thermal energy storage system in the world and the special communication facilities provided by VSNL- DoT and Software Technology Parks Of India.

Stating that Chennai has been rated by National Association of Software and Service Companies (NASSCOM) as the most sought-after city by the IT industry, Mr. Karunanidhi announced that the software park of an IT major, Polaris, at Naavalur near Chennai would be inaugurated by him on May 24.

Replying to the debate on the demands for grants for major industries, the Chief Minister said that the Rs. 28.50 crore optical fibre telecom cables project with Japanese collaboration at suburban Maraimalai Nagar would be formally launched on May 26.

The Rs. 110 crore Perundurai growth centre in Erode district would also be inaugurated on July 1. Other projects to be unveiled in July includes SIPCOT's Rs. 202 crore industrial park at Sriperumbudur, Rs. 19.9 crore export promotions industrial park at Gummidipoondi and a Rs. 27 crore TIDCO-NRI venture in the associate sector at Sriperumbudur for making new-generation condoms.

The work on the Rs. 800 crore hi-tech industrial park at Nanguneri near Tuticorin recently was also expected to take off in July, Mr. Karunanidhi said. The industrial park is expected attract foreign investments to the tune of Rs. 8000 crore and provide direct employment for 9000 people and indirect employment for 55,000 people, he added.

While the TIDCO initiated floriculture park on 220 acres of land in Hosur was expected to be completed by this year, Mr. Karunanidhi said, the Madras Refineries' Marketing Centre for high-ended petroleum products at Irungattukottai SIPCOT complex will become functional from this December.

He said that St. Gobain's Rs.480 crore float glass project with French technology had started trial production at its Irungattukottai plant and will go on stream by June. The second phase of the project to manufacture dolomite products will also commence in the current financial year, he said.

A Rs. 3,520 crore oil refinery project at Cuddalore with the Nagarjuna Group and the Rs. 76.87 crore modern textile processing unit Erode with Narmada Textiles are among the other TIDCO associate projects in the pipeline, he said.