Business Daily from THE HINDU group of publications
Friday, Sep 21, 2007
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Business Daily from THE HINDU group of publications Friday, Sep 21, 2007 ePaper |
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Industry & Economy
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Infrastructure States - Tamil Nadu Nanguneri evolves into a cluster of SEZs
Our Bureau Chennai, Sept. 20 The Nanguneri SEZ, originally conceived as a 2,500-acre multiproduct SEZ, will be promoted as a cluster of seven product-specific SEZs, according to an official press release. The Tamil Nadu Government has passed orders to this effect following recommendations from the Tamil Nadu Industrial Development Corporation. The project is being implemented by AMRL International Tech City Ltd, which has acquired over 2,100 acres at Nanguneri, near Tirunelveli. However, this falls short of over 400 acres needed to promote a full-fledged multiproduct SEZ. To expedite the project – it has been pending since 1999 – the promoters have obtained the State Government’s permission to set up product-specific SEZs. The SEZs to come up here are engineering industries (121 ha), autocomponents (110 ha), pharmaceutical (115 ha), electronic hardware (107 ha), logistics (70 ha), biotechnology (13 ha), and information technology (10 ha). TIDCO will immediately take steps to implement the project. The project is being promoted by the Hyderabad-based AMR group, which has acquired a 68 per cent stake from Infac, USA, which now holds 30 per cent. TIDCO holds a 2 per cent stake and would facilitate the project. When it was originally conceived, the Nanguneri SEZ was promoted as the Nanguneri High Tech Park, promoted jointly by the Infac Group and TIDCO through a special purpose vehicle, ATMAC Ltd. However, the project did not take off and the AMR-Group was inducted in 2006. More Stories on : Infrastructure | Tamil Nadu
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