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Private sector investment in TN's Vision 2023 to touch 40%

Our Bureau Chennai | Updated on October 29, 2012 Published on October 29, 2012

Industrial development: (From left) P. Murari, Advisor to FICCI President; Ashok R. Thakkar, Convenor, Infrastructure Panel, FICCI Tamil Nadu State Council; Masanori Nakano, Consul General of Japan in Chennai; and Rafeeque Ahmed, Chairman, FICCI Tamil Nadu State Council, at a meet on “Infra Vision- 2012” in Chennai on Monday. — Photo: Bijoy Ghosh   -  Business Line

Energy, transport among interest areas in Rs 15-lakh-crore development plan

Tamil Nadu will identify150-200 projects in each of the major sectors, including energy and transport, for development in the next few years. This process is currently under implementation as part of “Vision 2023” the State Government released in March, said V. Sriram, Chief Operating Officer, IMaCS, which was involved in preparing the vision document. It is estimated that nearly Rs 15 lakh crore worth of investment will be required in Tamil Nadu for industrial development. Nearly 40 per cent of this investment will come from the private sector, he said at InfraVision 2012, Accelerating Infrastructure Development through PPP, vision 2023, a seminar organised by FICCI.

The third phase will involve complete governance and implementation framework of the identified projects. Nine signature projects in sectors such as energy and transport have been identified, he said. Sriram said that the State Government is also formulating rules for PPP investment, he said.

Misconception

“There is a perception that Tamil Nadu is not PPP friendly. We need to change this,” he said. According to Masanori Nakano, Consul General of Japan, while there is a steady flow of Japanese investment into India, there is a growing concern among the investing companies on lack of infrastructure. India is ranked number two – behind China – in terms of being a promising investment destination, he said.

A strong domestic market and a supply base for component manufacturing makes India an attractive destination for investment, he said.

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Published on October 29, 2012
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