The Hindu Business Line : Malaysian investors interested in TN

Malaysian investors in construction and IT have evinced interest in investing in Tamil Nadu, according to Dato Seri Samy Vellu, Malaysia's Minister for Works.

A CII release, which quoted him addressing a luncheon meeting organised by it, said that IT hardware units in Penang have identified Tamil Nadu as a potential investment destination.

Penang has one of the world's largest chip manufacturing bases.

He said that Tamil Nadu should consider setting up a suburban town on a Malaysian model based on exclusive roads, zones for residential, commercial and industrial activities - all of which were connected by an internal monorail transport system.

Malaysia is also keen to set up a prefabricated housing and steel fabrication unit in Tamil Nadu.

Such products would help finish construction of a 10-floor building within six months.

The Minister welcomed Indian carmakers to Malaysia, which encourages the industry.

Car manufacturers from South Korea, Japan and the US have a significant presence in Malaysia, the release said. According to the Minister, India needs to create an all-India expressway to be able to sustain and scale up its economic growth.

The expressway would result in substantial savings in transport time and fuel, apart from attracting foreign investments.

He also said that Malaysia is interested in carrying out a feasibility study for the project, which could cost about $7 million.

It should include a new highway linking Chennai-Bangalore-Hyderabad, Goa and Pune and New Delhi-Kolkata routes.

More Stories on : Foreign Direct Investment | Hardware | Tamil Nadu

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