TN to get a Polymer Industries Park, CM lays foundation stone

The Tamil Nadu Chief Minister Edappadi K Palaniswami laid the foundation stone for the Tamil Nadu Polymer Park, a dedicated area for polymer industries on Friday. The park is to come up on a land of 257 acres at Puzhuthivakkam which comes under Tiruvallur district.

The TN Polymer Industries Park is a joint project of the Tamil Nadu Industrial Development Corporation (TIDCO) and State Industries Promotion Corporation of Tamilnadu (SIPCOT). The project has already managed to pool in ₹217 crores investment and is expected to attract ₹3000 crores more that can generate more than 7000 new jobs.

TIDCO along with National Industrial Corridor Development and Implementation Trust (NICDIT) joined hands to develop the Ponneri Node of the Chennai-Bengaluru Industrial Corridor. An agreement was signed between the two entities at a diplomatic event that showcased the economic and investment opportunities of Tamil Nadu organized jointly by the Ministry of External Affairs and State government.

Among the list of companies, South Korea based Hanon Automotive is set to invest 500 crores at Malrosapuram in Kanchipuram district. Mitsuba Sical will invest 504 crores in the SIPCOT complex present in Gummidipoondi. US based Jogo Health raised its investment from 15 crore to 250 crores and is expected to employ more than 10000 people.

The CM also released a handbook on 'Doing Business in Tamil Nadu' and highlighted the potential for investment in manufacturing sector, IT, infrastructure, food processing, and R&D in the state.

More than 36 countries participated with diplomats from France, Japan, South Korea, Denmark, Russia, Malaysia, Singapore, Thailand, the US and the UK.

Industries Minister M.C. Sampath, MEA Secretary (Economic relations) T.S. Tirumurti, TN Chief Secretary K. Shanmugam and MD & CEO of NICDIT Sanjay Murthy were present at the event.