In just a few decades these have developed into vibrant industrial areas with flourishing economic activity providing jobs for thousands, thanks to State Industries Promotion Corporation of Tamil Nadu (SIPCOT). Tamil Nadu realised early the need to focus on manufacturing and offered land with rich infrastructure on attractive terms. Result : the state is a preferred location for corporates to set up sophisticated industrial units. SIPCOT was established in 1971 to promote industrialisation, to develop areas and to offer an eco system for industry to flourish.
SIPCOT creates in its industrial parks, infrastructure like roads, drainage, lighting and assured power supply. “At Bargur, SIPCOT provides LED street lights, for solid waste management and a Helipad too! These have become necessities these days,” said Dr R Selvaraj, Managing Director.
“The electronics industry grew rapidly in Bengaluru. To tap into that market, SIPCOT acquired land at Hosur and developed it to facilitate industries,” he pointed out.
SIPCOT has acquired 30,000 acre of land in 12 districts and has developed 20 industrial parks. Out of these 20,000 acres have been allotted to various industries to setup at Hosur,”
Selvaraj pointed to meeting emerging needs: SIPCOT is expanding its land bank by another around 11,000 acres in 12 districts to establish new industrial parks. Since 2011, SIPCOT has attracted investments worth Rs 12,663 crore and created employment of 57,454 both direct and indirect.
To boost industrialisation in the southern districts, the government announced fresh incentives: these include land at half the price. “In line with this policy, at Nilakottai, we are offering land at Rs 7.5 lakh per acre against the prevailing market price of Rs 15 lakh per acre. With the Madurai-Thoothukudi industrial corridor taking shape, the southern districts will gain in prominence,” said Selvaraj.
During the last four years SIPCOT has spent Rs 240 crore on the creation of infrastructure at industrial park. To create and maintain the infrastructure at the industrial parks, SIPCOT, along with the Government, has created an Industrial Infrastructure Consolidation Fund of Rs 100 crore. SIPCOT has invested Rs 80 crore in the fund and the rest is provided by the state government.
SIPCOT has taken care to keep the industrial parks green. It built common oxidation ponds to treat sewage water. With companies opting to go for treatment plants within their premises, these oxidation ponds have become redundant. SIPCOT has rejuvenated them as catchment areas to harvest rain water.
SIPCOT has 2000 acres of land in and around Chennai and more are being acquired. The corporation is well-geared to make the state the home to more MNCs.