Chennai: With investments continuing to pour in across the state, the Tamil Nadu government on Friday announced that the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) will set up new industrial parks spread over a total area of 4,000 acres in eight locations.
The new industrials parks by state-owned SIPCOT will come up in Tiruvallur, Thoothukudi, Ariyalur, Tiruchirapalli, Tiruvarur, Kanchipuram, Chennai, and Perambalur districts, Industries Minister T R B Rajaa told the assembly. The largest among them will come up in Gummidipoondi near here in an area of 1,500 acres followed by Ottapidaram in Thoothukudi in an area of 1,000 acres.
The new parks will be in addition to 21 new SIPCOT estates announced in the past for which acquisition of 21,404 acres is in progress. Additionally, SIPCOT will also establish joint venture industrial parks with private participation, contours of which are being worked out.
SIPCOT has developed 40 industrial parks including seven SEZs spread across 40,839 acres in 20 districts across the state. In the last fiscal, SIPCOT welcomed new entrants like Vietnam’s Vinfast, Xylo Suisse and OneWeb India Communications in Thoothukudi, High Glory Footwear in Kallakurichi, Ramkrishna Titagarh Rail Wheels in Gummidipoondi, Phoenix Kothari Footwear in Perambalur and VVDN Technologies in Coimbatore.
“SIPCOT plays a key role for inclusive and sustainable industrialization in the State by development of world class infrastructure facilities, aligning it with sustainable development goals,” Rajaa said in the policy note.
SIPCOT acquires land from private owners to create Land Banks that play a pivotal role in attracting investors to Tamil Nadu as they are spared of the long and grueling process of acquiring land from private parties. The land acquired is used to form industrial estates by SIPCOT which ensures that the premises get good roads, water, sewerage, and electricity facilities.
The government said it has become necessary to acquire an adequate extent of land to readily allot industrial lands to prospective investors without any delay, which is a key differentiator of Tamil Nadu.
Another state-run agency, Tamil Nadu Industrial Development Corporation (TIDCO) will set up TIDEL Neo IT Parks in Tiruvannamalai and Karur, while SPICOT will build sports ground within industrial parks at Gummidipoondi, Mambakkam, and Thoothukudi.
The policy note said Tamil Nadu attracted investment commitments to the tune of Rs 9.74 lakh crore with potential employment opportunities for 31.12 lakh persons between April 2021 and June 2024. These investments are across capital-intensive and labour-intensive sectors, including non-leather footwear, electric vehicles and electronics manufacturing.
“The state is also the top exporter of electronic goods accounting for 33 per cent share in India. The total value of electronic goods exports registered an unprecedented growth from $5.37 billion in 2022-23 to $9.5 billion in 2023-24,” the minister said.