TN inks MoU with GMR for SEZ in Krishnagiri

Chennai, Aug 6: Tamil Nadu government today signed a Memorandum of Understanding (MoU) with the Bangalore-based GMR Infrastructure Ltd for setting up a multi-product SEZ at a cost of Rs 2,300 crore in Krishnagiri district.

The MoU was signed between company Director B V Nageswara Rao and Tamil Nadu Industrial Development Corporation (TIDCO) Chairman S Ramasundaram in the presence of Chief Minister M Karunanidhi at the State Secretariat here.

To be established through a joint venture company which will be floated soon by TIDCO and GMR in a 1,330 hectare area, the SEZ would trigger economic growth in the district in particular and Northern Tamil Nadu in general, leading to overall socio-economic development of the region and generation of large scale employment opportunities, Mr Rao told reporters after inking the pact.

Considering that it would have excellent connectivity owing to its proximity to the State Highways and National Highways-7 connecting Bangalore and Chennai, the SEZ was expected to attract export intensive investments from traditional industries like electronics, apparel and engineering.

The main objective of the SEZ, which was expected to attract investments to the tune of Rs 11,000 crore, was to create a world class industrial infrastructure, green corridors, high quality social infrastructure and ecologically sustainable design.

It would bring about exports worth Rs 16,000 crore per annum and generate direct employment for about 70,000 people.

Mr Rao said the lands identified for the project were completely dry lands and poromboke ones. ''Special care has been taken to exclude wet lands, water bodies and habitations, while identifying land for the project, for which the Centre has already given in-principle approval.'' The location of the SEZ was connected to key industrial cities like Bangalore, Coimbatore and Salem by rail and was 300 km from Chennai and Ennore ports. It was around 90 km from the new Bangalore International Airport at Devanahalli and about 200 km from the new greenfield Chennai International Airport, being developed at Sriperumbudur, near here.

''Proximity to Bangalore and the high quality infrastructure and connectivity in the SEZ are expected to attract IT and ITeS industries and also Knowledge-based industries like Bio-technology and Nano-technology,'' he said.

He said the company was selected as a joint venture partner of TIDCO through an international competitive bidding process.

State Electricity Minister Arcot N Veerasamy, Chief Secretary L K Tripathy, Industries Secretaty Shaktikanta Das, Finance Secretary K Gnanadesikan and GMR Group Chairman G Mallikarjuna Rao were present on the occasion.

UNI