TN Plans to Woo Rs 3 bn Investment in Aerospace Projects

Published: 05th March 2015 06:00 AM  |   Last Updated: 05th March 2015 03:47 AM   |  A+A-

TN Plans

CHENNAI: The government of Tamil Nadu is planning to create an ecosystem for the aerospace industry  as part of its $3 billion investment plan for aerospace projects in multiple locations, and will woo global investments during the upcoming Global Investors Summit.

Speaking during the Sixth Edition of the Tamil Nadu Manufacturing Summit, General Manager B Elangovan, Tamil Nadu Industrial Development Corporation (TIDCO) said, “We are planning to create an ecosystem for aerospace industry in phases in multiple locations including Chennai, Hosur and southern Tamil Nadu.”

The aeropark in 250 acres of land in Sriperumbudur has already attracted investments worth `1,500 crore from eight India-based companies.

 “Seven more companies are submitting their proposals while 10 companies have shown an interest. We are expecting a few major original equipment manufacturers (OEMs) in the park,” said Elangovan.

By the end of the year, there will be around 50 companies which would have set up their shop in the aeropark.

The aeropark will have a Centre of Excellence, besides an avionics complex, design studio interiors, a warehouse complex and a training or simulator complex.

“We will soon be replicating similar aeroparks in Hosur and Southern Tamil Nadu,” Elangovan said, adding that a maintenance repair and overhaul facility has been planned on 50 acres of land in Meenambakkam.

TN not to let Nokia plant remain idle

After Prime Minister Narendra Modi declared the Centre’s intent to restart Nokia, Sriperumbudur plant, top State government officials said that the State government was always hopeful that it would be revived and had not given up. Both Industries Secretary C V Shankar and executive vice chairman Tamil nadu Industrial Guidance and Export Promotion Bureau, M Velumurugan said that the State government has been putting its weight behind re-opening Nokia’s Chennai plant, which engineered the electronics revolution in the city. Efforts toward re-opening it will be revived and not given up, he said.  Shankar said the first step would be to de-freeze the assets of Nokia and this can be done only by the revenue department in New Delhi.

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