Date:04/08/2008 URL: http://www.thehindu.com/2008/08/04/stories/2008080459410700.htm

Tamil Nadu

SIPCOT acquiring land for foreign investors

Special Correspondent

CHENNAI: The State Industries Promotion Corporation of Tamil Nadu (SIPCOT) has identified four hot spots near Sriperumbudur for setting up country specific enclaves to attract fresh investments.

SIPCOT is in the process of acquiring 1,982.72 acres of land in Vadagal, Vallam, Sirukalathur and Budanur villages for distributing to investors from Japan, Korea, Finland, France and Germany. Some of these industrial estates would become a reality before March 2009.

Last week, SIPCOT chairman and managing director N. Govindan went to Japan and addressed the automobile players about the opportunities that awaited them in Tamil Nadu. A couple of investors from Japan and Korea recently met the SIPCOT officials to get basic details about the land that would be made available to them for setting up their units. Some 20 days ago, a delegation from France had lengthy discussions in this regard.

Talking to The Hindu, Mr. Govindan said SIPCOT was in the process of creating land bank with 25,000 acres spread over 14 centres for creation of industrial estates.

“We will earmark around 100 acres each for Japanese, Finnish and Korean companies,” he said.