Tamil Nadu targets Rs 30,000 cr in investments this fiscal

CHENNAI: Having attracted investments of over Rs 27,000 crore last fiscal, the Tamil Nadu government has set a target of Rs 30,000 crore for 2013-14, Industries Minister P Thangamani said today.

In 2012-13, due to "proactive steps," taken by the Jayalalithaa government, 17 MoUs were signed with Indian and foreign MNCs such as Ashok Leyland-Nissan, Hyundai, Yamaha and BGR Energy for Rs 26,625 crore, he informed the Assembly.

Besides, eight companies were "facilitated" to set up their units and bring in investment of Rs 1,268.76 crore, "thus totalling investments of Rs 27,893.76 crore."

"During the current financial year, the government shall endeavour to mobilise investments to the tune of Rs 30,000 crore," he said.

Listing out various initiatives of his department, he said State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) has proposed to create a landbank of 20,000 acre to promote industrial parks in southern Tamil Nadu.

"In addition to this, SIPCOT has identified another 25,000 acre to develop backward districts of Tamil Nadu," he said.

On the recently inaugurated Port Complex and Shipbuilding Yard in Kattupalli near Chennai, a joint venture of state- owned TIDCO and Larsen & Toubro, he said its second phase will be taken up next year with an investment of Rs 1,300 crore and completed in 2015.

The Rs 3,375 crore project includes captive facilities for shipbuilding, facilities for building very large cargo carriers and building of defence ships including submarines, Thangamani said.

Further, the construction work on the proposed LNG Terminal at Kattupalli is expected to start this year and will be completed by 2017, he said.

"The Front End Engineering and Design work for this project has been completed," he said about the Rs 4,320 crore LNG Import Terminal. It will have an annual handling capacity of 50 lakh tons of LNG and will distribute 180 cubic metres per day for industrial and domestic use, he added.

With a focus on solar power, Tamil Nadu Industrial Development Corporation plans to establish 1000 mw solar power park projects in multiple locations in association with private players this year at an estimated cost of Rs 9,000 crore.

The proposed parks will provide common facilities to independent solar power producers such as developed land, roads, water supply, drainage and dedicated power evacuation facilities, Thangamani said.