TN govt signs MoU with MPPL for SEZ
The Tamil Nadu government signed an MoU with MPPL Renewable Energy to set up a SEZ.
By PTI |
CHENNAI: The Tamil Nadu government on Saturday signed an MoU with MPPL Renewable Energy to set up a Special Economic Zone for manufacture of machinery and tools for renewable energy generation.
"The SEZ, which already has in principle approval by the Centre, would come up at Chengalpattu district at a cost of Rs 1,300 crore," Chairman of MPPL Renewable Energy K Krishnan told reporters after singing the MOU.
"MPPL and Mumbai based Kamala group of companies had formed a Joint Venture--Future Energy Zone Projects Limited, for setting up the SEZ," he said.
The Kamala Group would have 76 per cent equity stake in the JV, he said.
"Over 40 manufacturing units, mainly for manufacturing biomass boilers, gasifiers, solar photovoltatic products and wing turbines would be set in the zone," he said, adding that the zone would have facilites for research and testing of new products.
The project would provide direct employment to 5,000 persons and indirect employment to 10,000, the release said, adding that it would be completed before the end of 2008.
The MoU was signed by industries secretary Shakthi Kanthadas and MPPL chairman K Krishnan in the presence of Chief Minister M Karunanidhi and Electricity Minister N Veerasamy.
"The SEZ, which already has in principle approval by the Centre, would come up at Chengalpattu district at a cost of Rs 1,300 crore," Chairman of MPPL Renewable Energy K Krishnan told reporters after singing the MOU.
"MPPL and Mumbai based Kamala group of companies had formed a Joint Venture--Future Energy Zone Projects Limited, for setting up the SEZ," he said.
The Kamala Group would have 76 per cent equity stake in the JV, he said.
"Over 40 manufacturing units, mainly for manufacturing biomass boilers, gasifiers, solar photovoltatic products and wing turbines would be set in the zone," he said, adding that the zone would have facilites for research and testing of new products.
The project would provide direct employment to 5,000 persons and indirect employment to 10,000, the release said, adding that it would be completed before the end of 2008.
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The MoU was signed by industries secretary Shakthi Kanthadas and MPPL chairman K Krishnan in the presence of Chief Minister M Karunanidhi and Electricity Minister N Veerasamy.
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