Quick Samsung clearance must spur other Korean firms to invest

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Chennai, Nov 13 (UNI) Pointing out the quick government clearance for the Samsung manufacturing facility here, Tamil Nadu Chief Minister M Karunanidhi today urged the company officials to spread this message to other Korean companies who were contemplating to invest in India.

Inaugurating the new manufacturing facility at Sriperumbudur near here this evening, he said the first hand experience gained by Samsung officials here would give the other Korean companies the necessary assurance and confidence to make up their mind to invest in Tamil Nadu.

Recalling the various stages of development of the project, he said Samsung had signed the MOU with the State government on November ten last year and the Construction work was started on February nine. ''Within a period of just one year, the plant is being inaugurated today'', he added.

''This showed that the government follow up all the issues to ensure that new industries are able to start production early.

Issues relating to various agencies were being resolved through single window mechanism of the government which helps the companies to get quick clearances'', he added.

''Kindly take note of this and spread this message to other Korean companies, who may be contemplating to invest in India'', Mr Karunanidhi said.

Observing that Samsung had so far invested about Rs 120 crore and the projected investment in this faclity upto 2011 was Rs 400 crore, he appealed to Samsung to speed up setting up of the production facility at the SEZ also as it would boost to exports from this region.

Highlighting the key aspects of the new industrial policy released by his government recently, Mr Karunanidhi said under the policy industries that make investments of over Rs 350 crore in the manufacturing sector in Chennai, Kancheepuram and Thiruvallur district and over Rs 250 crore in other districts, would be eligible for structured package of assistance.

He said with a view to promote investment in electronic hardware indutries, the ceiling has been fixed at Rs 250 crore in eligible fixed assets in Chennai, Thiruvallur, Kancheepuram and Rs 150 crore in other districts.

He said the policy has given a lot of importance to human resources and skill development and the governemnt was planning various initiatives in collaboration with the industry to improve the infrastructure in ITIs, revise the course content and provide the right inputs to ensure that students from ITIs find placement in the industries.

Regarding connectivity, Mr Karunanidhi said the State government was taking up with the Centre provision of rail connectivity to Sriperumbudur and Oragadam areas. Roads improvement was also being taken up with the National Highways Authority of India, he added.

UNI

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