TN aims to attract Rs 1,000 Cr investments in Aerospace Park
Chennai, Aug 11: Tamil Nadu aims to attract Rs 1,000 crore worth of investments in the proposed aerospace park which is scheduled to come up in Sriperumbudur, Industries Minister M C Sampath said here today.
The government has granted approval for implementation of the Aerospace park on 250 acres in SIPCOT (State Industries Promotion Corporation of Tamil Nadu) Industrial Park, Sriperumbudur, at an estimated cost of Rs 350 crore for manufacturing aerospace components and maintenance and repair services for Avionics.
The park is scheduled to be constructed over a period of five-year. "This park will attract Rs 1,000 crore of investment in a period of five years and will generate direct employment to 10,000 persons and indirect job to 25,000", he told the State Assembly.
Stating that the park would have a Common Testing and Technology Centre, he said, "SIPCOT has allotted 36.19 acres of land to 13 industrial units". The park is proposed to provide basic infrastructure facilities like roads, street lights, storm water drains at an estimated cost of Rs 30 crore, he said.