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A 300-acre industrial park for high-end plastic components manufacturing units is to come up to the North of Chennai, according to official sources.
The State Industries Promotion Corporation of Tamil Nadu (Sipcot) and the Tamil Nadu Industrial Development Corporation (Tidco) will float a joint venture, which will implement the project.
Tidco has submitted the final proposal to the Department of Chemicals and Petrochemicals, Government of India, for an Rs 40-crore grant eligible for such facilities.
The detailed project report was submitted in April. The total project cost is estimated at about Rs 243 crore, according to sources.
The industrial park is coming up on Government-owned land near the Ennore Port and the L&T Port at Kattupalli.
The industrial park will have common infrastructure facilities for investors planning to set up medium and small-scale units for manufacturing high-end engineering plastics, auto components and machines for making such plastic products. Over 70 such units can be accommodated at the industrial park, which can generate over 25,000 jobs.
Among the early investors are Indian Oil Corporation which is planning a plastic container manufacturing unit for its lubricants, the sources said.
With Chennai developing as a production centre for automobile, electronic hardware and a range of industries that use plastic components, the industrial park is expected to attract significant investments.
The Tamil Nadu project is one of the four in the pipeline with similar facilities in Madhya Pradesh, Orissa and Assam coming with Central assistance.
balaji.ar@thehindu.co.in
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