TN approves fifth multi-product SEZ at Perambalur
The creation of infrastructure to push industrial growth momentum in Tamil Nadu has received a boost, following the administrative approval for land acquisition for the state’s fifth special economic zone (SEZ).
By V Hemamalini, TNN |
CHENNAI: The creation of infrastructure to push industrial growth momentum in Tamil Nadu has received a boost, following the administrative approval for land acquisition for the state���s fifth special economic zone (SEZ).
The foundation is being laid to set up a multi-product SEZ, 220 km away from Chennai, over 3,000 acres in the Perambalur district of Tamil Nadu. Last week, a government order was issued, allowing the Tamil Nadu Industrial Development Corporation (TIDCO) to go ahead with land acquisition.
Industry experts feel the move is a big development, given the raging controversy over SEZs. Sharing the details with ET on Wednesday, TIDCO chairman and managing director, S Ramasundaram said, ���We have got the go ahead for land acquisition. The first stage involved in the process to select the promoter is also over.��� The SEZ would see the formation of a special purpose vehicle and an investment of Rs 300 crore to Rs 500 crore.
He said the request for proposal, a stage before the final selection of a partner, would take place next week. On the basis of quantitative parameters, eight players had passed the first stage. ���They will present a concept paper on the SEZ to the TIDCO board for approval,��� he said.
Asked if the SEZ controversy will stall the current venture, Mr Ramasundaram said he did not foresee any such problem in Tamil Nadu. TIDCO has been following the Mahindra model, the first greenfield SEZ of the country. ���Everything at Mahindra SEZ was built from scratch. Of the 1,300 acres, 1,250 acres were directly purchased. TIDCO also intends buying land at market price, directly from the land owners. This will save us from litigation,��� he added.
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Mr Ramasundaram said the Hosur SEZ too was in an advanced stage, with the government nod expected anytime. There was no rehabilitation in the project as TIDCO had identified only dry lands.Download
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