By IANS
Chennai : With investors increasingly looking at Tamil Nadu as a destination, the state government plans to build a land bank to meet industries’ needs.
In the state’s new industrial policy Chief Minister M. Karunanidhi announced here Monday, the government said it would create a land bank of 10,000 acres across the state for setting up industrial parks over the next five years.
The state would also develop quality infrastructure, including social infrastructure, such as skill development centres, housing, business centres, restaurants, financial services, schools and hospitals.
The government will review and update the Tamil Nadu Special Economic Zone (SEZ) Act, 2005 and the Tamil Nadu SEZ Policy 2003.
Proposals for SEZs in industrially backward areas will be given priority to help balanced regional industrial development.
The new industrial policy states that private industrial parks shall purchase required land directly from landowners.
The private parks and SEZs shall, as far as possible, be on barren, non-irrigated and dry lands.
The government will not allow industrial park proposals involving more than 10 percent wetland.
According to the new policy, all approved industrial parks are eligible for industrial park infrastructure grant of Rs.20 million, provided the park is 50 km from Chennai and attracts at lest 20 new manufacturing units giving direct employment to 2,000 people.
The new policy stipulates that 10 percent of the area in new industrial parks promoted by State Industries Promotion Corp of Tamil Nadu Ltd (Sipcot) and Tamil Nadu Industrial Development Corp (Tidco) would be set apart for social infrastructure.
Similarly, 20 percent of area to be allotted in new industrial parks or SEZs, or expansion of existing ones promoted by Sipcot or Tidco will be reserved for small and medium enterprises (SME) including SME vendors to major industries in the same park.
A 2,000-acre nano-technology park will be developed by Sipcot to house hi-tech manufacturing in semiconductor foundries, chip assembly and testing, opto-electronics, solar cell technologies and nano-technology.
The proposed nano-technology park will have both SEZ and domestic tariff area zones.