Chennai, Sep 27: To encourage IT majors to set up IT parks in tier II towns in Tamil Nadu, the state Cabinet has decided to make available land to IT majors, even as it is all set to unveil a new Industrial Policy next week.
The Cabinet meeting, chaired by Chief Minister M Karunanidhi here yesterday, had decided to allot land through state owned ELCOT to the IT and ITES companies in Madurai, Tiruchirapalli, Salem and Tirunelveli.
IT and ITES companies like HCL Technologies, Honeywell International India Services, SGT India, Satyam Computer Services, Sutherland Global Services, Cognizant Technology Solutions (CTS) and Zenith Software would be alloted lands in tier II towns, an official release said.
The Cabinet also decided to give land on a 90-year lease to frontline IT firms like Sify, Sutherland Global, CTS and Scope International in the Special Economic Zone at Sholinganallur in Kancheepuram district of the state.
The Cabinet approved the government's new Industrial Policy, which sought to give a new impetus to the agriculture sector and encourage fresh investments in the state.
Mr Karunanidhi would unveil the new policy next week. In another major decision to relieve the local bodies of their debt burden, the Cabinet decided to waive loans to the tune of Rs 787.42 crore owed by civic corporations and municipalities.