Coimbatore road show to promote investment potential of Chamarajanagar

In an effort to promote Chamarajanagar in Karnataka as an investment destination, an investors’ meet and road show are being organised in Coimbatore on Monday by the Federation of Karnataka Chambers of Commerce & Industry (FKCCI), Bangalore, in association with the Department of Industries & Commerce of the Karnataka Government.

The Karnataka Chief Minister Siddaramaiah will preside over the event that will be attended by six Karnataka ministers, apart from MPs and MLAs from Chamarajanagar area.

Speaking to presspersons in Coimbatore today, R. Shivakumar, President, FKCCI, said the Karnataka Government had identified about 1,360 acres under the Suvararna Karnataka Corridor Scheme in Chamarajanagar which borders Tamil Nadu for establishing industries.

The district was rich in mineral resources like black granite and had a strong agricultural base. It has good connectivity by rail, road and air. As the area was an industrially backward region, it was eligible for a slew of concessions.

Potential sectors

He said some of the sectors identified as having potential in the area included foundry, motor rewinding, textiles, auto components, granite, food processing industries etc. Referring to the close proximity of the area to Coimbatore region and the long association between people of the two areas, he wanted the industrialists here to grab the investment opportunity provided by Chamarajanagar. Similar road shows were planned at Chennai and Madurai.

B. Mahesh, Joint Director, Karnataka Udyog Mitra, said a global investors’ meet was scheduled to be held during October-November this year in Karnataka and the Coimbatore meet was part of the efforts to promote the State as an investment destination. The participation of Karnataka Chief Minister in the Coimbatore road show assumed significance since the State Government was in the process of drafting a new industrial development policy.

Tourism

Apart from being rich in minerals and agri/horticultural products, Chamrajanagar also had great tourism potential waiting to be tapped. He said more than 250 entrepreneurs had shown keen interest in investing in the district.

Commenting on the demand for laying a railway track linking Sathyamangalam in Tamil Nadu with Chamarajanagar, Shivakumar said his chamber had already sought a No Objection Certificate from the Tamil Nadu Government for laying the railway track as it has to be laid through thick jungle. It was mentioned that a new system of drilling tunnels without damaging the forest or environment was available which could be used in establishing the rail link.

Rail projects

A major advantage of railway projects in Karnataka was that the State Government funded 50 per cent of the cost of projects within Karnataka, apart from giving land. The chamber had also pressed the Karnataka Government to take up the eight-laning of the Coimbatore-Mysore road to provide a direct link to the Mumbai-Bangalore-Chennai industrial corridor.

Asked whether any study had been made about how much investment the proposed Chamarajanagar industrial park would attract once all plots were allotted, he said the road show would also lead to signing of Expression of Interest (EoI) which would provide an idea about the size of investment the park would attract.

R.R. Balasundharam, President, Indian Chamber of Commerce and Industry (ICCI), Coimbatore, and R.Ramachandran, President, Coimbatore District Small Industries Association (Codissia), were among those who participated., The ICCI, Codissia and the Southern India Engineering Manufacturers’ Association (Siema), Coimbatore, along with Karnataka Udyog Mitra are the event associates.

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