Chennai to get 300 acre plastic industry park | SupportBiz

News

Chennai to get 300 acre plastic industry park

 
The State Industries Promotion Corporation of Tamil Nadu (Sipcot) and the Tamil Nadu Industrial Development Corporation (Tidco) are joining hands to build a 300 acre plastic industry park in North Chennai, reports Business Line.

Similar projects with Central assistance are coming up in Madhya Pradesh, Orissa and Assam as well.

The proposed industrial park will manufacture high-end engineering plastic components and will be located in a Government-owned land near the Ennore Port and the L&T Port in Kattupalli. The park will have common infrastructure facilities for setting up around 70 medium and small-scale units, which will generate over 25,000 jobs.

The final proposal for the project, requesting a grant of Rs 40-crore has been submitted by Tidco to the Department of Chemicals and Petrochemicals. Sources said the total cost of the project is estimated to be about Rs 243 crore.

Chennai is a developing manufacturing hub for automobile, electronic hardware etc. which extensively use plastic components. Looking at the potential of the industrial park, several investors are already showing their interest to establish their units here. The most prominent is the Indian Oil Corporation which is planning a plastic container manufacturing unit here for its lubricants.