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The DMK government will announce a revised electric vehicle (EV) policy with special features that will help in the multi-fold increase in production; infrastructure development for EV production and meet the needs of users, according to a release on Industry Demand for Grants tabled in the Assembly on Tuesday. The previous AIADMK government announced an EV policy in September 2019.
The revised EV policy will be formulated taking into consideration various developments taking place in production and use of EVs.
The AIADMK government’s ‘Tamil Nadu Electric Vehicle Policy 2019’ set out a vision to attract ₹50,000 crore in investments and create 1.5 lakh new jobs. The support measures announced includes 100 per cent road tax exemption for all types of EVs, capital subsidies and reimbursement of State GST.
Industrial projects
The DMK government on Tuesday also announced various industrial projects worth nearly ₹1,700 crore to be set up across the State. This includes a ‘ready built factory’ at Nemili, in Kanchipuram district at a cost of ₹40 crore. This will reduce the initial investment required to start the business, and also help in starting the business immediately.
The government will also set up an integrated apparel park at a cost of ₹400 crore in 250 acres at Kumaralingapuram in Virudhunagar district. The park is expected to create direct and indirect employment for 15,000 people.
With eco-friendly technologies, EVs and hydrogen vehicles expected to be of paramount importance in the future, a Future Mobility Park will be set up at Soolagiri in Krishnagiri district at a cost of ₹300 crore. This is the first of its kind in India, the Industries Minister Thangam Thennarasu said.
A new 576 acres Sipcot industrial park will be set up at Uthukottai in Tiruvallur district in with a project cost of ₹250 crore. Two ethanol mills to produce 60 kilolitres a day will be set up at a cost of ₹170 crore, he said.
Meanwhile, the Policy Note 2021-2022 on Industries Department (Major Industries) said that Sipcot plans to create a land bank of 45,000 acres, including the upcoming and new industrial parks, in the next 5 years with focus on industrially backward districts.
To expedite the procurement of land banks, procedures under the Tamil Nadu Acquisition of Land for Industrial Purposes Act will be simplified. Alternate modes of acquisition such as land pooling and private negotiation will be resorted to.
Tamil Nadu Industrial Development Corporation’s (Tidco) Aero Hub project at the Aerospace Park in Sriperumbudur will be implemented in two phases. The Phase-1 is being implemented with built up space of 3.5 lakh sq ft at a cost of ₹230 crore and will be completed by February 2023.
A multi-modal logistics park is being developed in 158 acres in Mappedu village jointly by Tidco, National Highways Authority of India (NHAI) and Chennai Port Trust at an estimated cost of ₹1,200 crore.
TIDCO, in association with Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC) has set up an Emerging Sector Seed Fund with a corpus size of ₹500 crore to focus investment in emerging sectors such as Fintech and EVs. Out of the fund size of ₹500 crore, TIDCO and TIDEL will contribute ₹30 crore and ₹20 crore respectively and the balance corpus of ₹450 crore will be raised by TNIFMC.
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