Industry & Economy
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Infrastructure
INFAC India team visits hi-tech park site at Nanguneri
Our Correspondent
Madurai
,
April 12
A TEAM from INFAC India Group LLC visited the proposed site for the hi-tech park at Nanguneri, about 35 km from Tirunelveli, on Monday.
The team led by the Chief Executive Officer of the INFAC India Group, Mr Charles V. Loucks, and comprising representatives of a syndicate of banks in US and Europe expected to fund the Rs 6,000 crore project, visited the various places of the 2,100-acre site.
They were accompanied by the General Manager of the Tamilnadu Industrial Development Corporation (TIDCO), Mr Wellington, and the Superintendent of the Tamilnadu Water And Drainage Board (TWAD), Mr Daniel.
A joint venture, namely, the Advanced Technology Manufacturing And Assembly City (ATMAC) floated by INFAC and TIDCO for the purpose of establishing the hi-tech park has acquired the site. The park is expected to house non-polluting, less water intensive and hi-tech industries.
While Rs 700 crore is to be spent initially on infrastructure, Rs, 6,000 crore is to be spent in three phases for establishing a wide range of industries.
Mr Loucks told reporters that while the master plan for Park is complete, it could not be said when the work would start, the sources mentioned.
The team is expected to hold a few more rounds of talks with the State Government in the next few days, the sources added.
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