State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) was established in 1971 to develop industrial growth in Tamil Nadu. SIPCOT is involved in the formation of industrial complexes and parks across the state by providing basic and comprehensive infrastructure facilities for the industries to set up their units. SIPCOT has so far developed 21 industrial complexes/parks in 12 districts and seven sector-specific Special Economic Zones (SEZs) across Tamil Nadu, said K Srinivasan, Managing Director, SIPCOT.
Large land bank…
SIPCOT has acquired about 32,000 acres of land and allotted around 21,000 acres to over 2500 industrial units. As on May 2018, the corporation has 5177.61 acres of land available for allotment all across the state.
SIPCOT has been acquiring new parcels of land continuously. So far, 41,252 acres of poramboke lands have been identified for acquisition for allotment to industries.
SIPCOT is the nodal agency for the structured package of assistance for establishing new manufacturing facilities as also for expansion of existing units with significant investments. It was instrumental in attracting investments from large corporations. So far it has attracted investments worth around Rs 110,000 crore and has provided direct and indirect employment to more than six lakh.
For the FY 2017-18 SIPCOT’s revenue stood at Rs 612 crore with an after-tax profit of Rs 166.45 crore. With large land parcels, its networth as on March 2018 was Rs 1303 crore.