Taiwanese Industrial Park near Chennai set to draw ₹10,000 crores investment

Among a slew of announcements made by the Minister is a Taiwanese Industrial Park, which will come up near Chennai with a potential to attract ₹10,000 crores and provide jobs to nearly 20,000 persons. With a significant share of the FDI into the State coming from Taiwan, Tamil Nadu is set to establish a Taiwanese Industrial Park near Chennai, which has the potential to attract ₹10,000 crores and provide jobs to nearly 20,000 people. Making a slew of announcements in the Assembly on Friday, Tamil Nadu Industries Minister, TRB Rajaa said that the conversion rate of the Memorandum of Understanding (MoU) signed at the Tamil Nadu Global Investors Meet 2024 now stands at 72% and out of 897 MoUs signed since 2021 till date, work has begun on 722, with many having moved into commercial production already. He also said that a new non-leather footwear park spanning 125 acres will be set up in the Tirupattu district to attract investment worth Rs ₹250 crores and job opportunities to 2,300 jobs. A new warehousing policy will be announced soon, he added.

A Marine Food Processing Industrial policy is set to be announced and a new marine food processing and export park in Thanjavur district is set to be built at a cost of ₹125 crores. This will attract investment of nearly ₹200 crores and provide 2,000 jobs, he said. Five new Sipcot plug-and-play textile parks will be established at Tiruvaru, Nagapattinam, Sivagangai, Ramanathapuram and Thoothukudi. In addition, a new Sipcot park will be established on 100 acres in Sivagangai district. This park has the potential to attract ₹200 crores in investment and create 2,000 jobs. New Sipcot parks will also be established in Kallakurichi district on 450 acres, with the potential to attract ₹630 crores worth of investment and provide 9,000 jobs. Sipcot now has a land bank of 48,926 acres, he added. In order to improve the investment facilitation ecosystem, new desks of Guidance Tamil Nadu (the investment promotion agency of TN) will be set up in the United States, Germany, South Korea and Vietnam. Further, an Artificial Intelligence (AI) based virtual walk-throughs of selected industrial parks and ready-built industrial complexes will be created by Guidance to facilitate global investors to take decisions regarding investments in Tamil Nadu from their own locations, the Minister said. Further, to showcase Tamil Nadu’s manufacturing capabilities and industrial history, a products museum will be set up in Chennai featuring products manufactured by the industries in Tamil Nadu.

Source : https://www.thehindubusinessline.com/news/national/taiwanese-industrial-park-near-chennai-set-to-draw-10000-crore-investment/article69490252.ece