TN government allots land for 12 companies at proposed Aerospace Park

CHENNAI: Setting the ball rolling for its ambitious Aerospace Park, the Tamil Nadu government has allocated land for 12 companies at the proposed Aerospace Park to come up in nearby Sriperumbudur.

Tamil Nadu Industrial Corporation (TIDCO), which is implementing the plan said that of the proposed 30 companies in the first phase, three more have submitted applications, seeking land allocation.

"Fifteen more companies have expressed interest to set up units in this park. Expected investment through these 30 aerospace companies is around Rs 3,000 crore and the expected employment potential is around 5,000 persons," the policy note that was tabled in the Assembly said.

TIDCO has set itself a target of ensuring that about 40 companies set up their units in the park by mid-2016, it said.

Government has issued orders for allocating 300 acres at nearby Sriperumbudur for setting up the Aerospace Park.

As per the government orders, State Industries Promotion Corporation of Tamil Nadu (SIPCOT) has earmarked around 258 acres to develop the park, it said.