SIPCOT to build land bank to attract investors

Three industrials park which was promoted by state-run State Industries Promotion Corpo-ration of Tamil Nadu Limited (SIPCOT), aimed at attracting investments of over Rs 8,400 crore. The corporation is now planning to set up a land bank to help investors address the land acquisition issue.

The corporation, which has been playing a catalytic role in the development of balanced industrial growth in Tamil Nadu since 1971 has so far developed 19 industrial complexes in different parts of the state and allotted 17,889 acres of developed land to 1,979 units, resulting in direct and indirect employment for about 450,000. people.

Tamil Nadu Industries Minister S P Velumani announced in the Assembly that the total extent acquired since its inception is around 27,115 acres.Apart from this, proposals for acquiring of land for creation of a Land Bank to keep adequate land readily available to meet the immediate requirement of the needy investors are under process.

This proposed Land Bank is developed by acquiring dry and barren lands by carefully avoiding cultivable lands.

During 2009, Thervoykandigai Industrial Park, with 1,127 acres of government poramboke (wasteland) land has been established at Thervoykandigai, Gummidipoondi Taluk, Thiruvallur District. In this park, 290 acres have been allotted to Michelin India Tamilnadu Tyres Private Limited and 85 acres to Harsha Group based on the MoU entered between the companies and the government.

Besides, 128.07 acres have been allotted to three units including the Tamil Nadu Electricity Board. Through these allotments, there would be an investment of Rs 6,817 crore and employment opportunity for 5,150 persons.

Mappedu Industrial Complex, another complex in the same district at Mappedu will spread over in 123.08 acres of government poramboke land and the entire extent has been allotted to Chennai Port Trust for setting up an Integrated Dry Port and Multi Model Logistics Hub with an investment of Rs 260.50 crores and with an employment potential of 700 persons.

Manamadurai Industrial Complex, located in one of the most backward regions of the State, 94.99 acres of land has been allotted to Unity Appliances Limited a group company of Videocon, for manufacturing colour television sets and electronic consumer durables with an investment of Rs 1,500 crore.

Apart from this, 4.76 acres has been allotted to a unit as the vendor of Unity Appliances; 30.44 acres have been allotted to a unit belonging to the Group of Videocon for setting up a Solar Photovoltaic power plant.

The minister said, following the administrative sanctions issued by the government, acquisition of lands is in progress in Thoothukudi Phase II (1,179 acres), Cheyyar Expansion (2,300 acres), Sriperumbudur 26 (Vallam - Vadagal) Expansion (1,780 acres), Oragadam Expansion II (616 acres), Madurai Industrial Park (1,478 acres) and New Industrial Park at Villupuram District (720 acres).

This will enable SIPCOT to keep ready 7,900 acres of land for allotment to industries.

SIPCOT has also proposed to allot 100 acres of land each for setting up of separate Industrial Parks for investors from countries like Japan, Korea, Finland, Germany and France to attract more foreign investments from them. Acquisition