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"I am happy to inform that the government of India has approved the Medi Park Project which is to be established on a 330-acre land in Kancheepuram district," he told the state Assembly while presenting the budget for the financial year 2017-18.
The park is proposed to be set up at an estimated cost of Rs 130 crore, he said.
On the initiative to boost the Aerospace industry, he said Rs 350 crore has been allocated for setting up the Aerospace park for manufacturing aerospace components and provide maintenance and repair services.
"An Aerospace park is being established on 268 acres of land in Vallam-Vadagal SIPCOT Industrial Estate, Kancheepuram at an estimated project cost of Rs 350 crore for setting up advanced computing and design engineering centre," he said.
Similarly, Jayakumar said the state government has proposed to set up a Plastics Industries Park in neighbouring Ponneri town at an investment of Rs 264 crore.
"Tamil Nadu Industrial Development Corporation in association with SIPCOT (State Industries Promotion Corporation of Tamil Nadu) is establishing a Plastic Industries Park in Ponneri," he said.
Besides, the minister said the government-owned Tamil Nadu Newsprints and Papers Ltd, has undertaken expansion plans at an investment of Rs 2,100 crore for expanding second unit.
For the industries department, Jayakumar said Rs 2,088 crore has been provided in the budget estimate for the financial year 2017-18.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)