Companies

TN looks to other investors

| Updated on: Sep 02, 2011

Having lost Peugeot to Gujarat, a disappointed Tamil Nadu has begun to move on. It will now turn its attention to other potential investors.

Two of them are major.

Indo Rama's plans

The Indo Rama group is seeking 150 acres of land at Ennore to put up a petrochemicals plant. Possible investments: Rs 5,000 crore.

The group wants to produce polyester filament yarn and polyester staple fibre. They are talking of a huge capacity: 1.4 million tonnes, sources in the Government have told Business Line .

While the land sought is not much, the concern is over possible pollution effects and the Tamil Nadu Government expects to be convinced more on this.

Toyota

The other potential investor, who has looked at some sites, is Toyota. Government sources are even more tight-lipped about this and all they would say is that Toyota wants some land along the Chennai-Bangalore corridor.

Will these investments come through? With an air of a child that has to do its homework all over again, the Tamil Nadu bureaucracy is slowly beginning to put ‘Peugeot' behind and look to the future.

Published on September 02, 2011

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