1. SIPCOT floats special purpose vehicle for Madurai-Thoothukudi corridor project

SIPCOT floats special purpose vehicle for Madurai-Thoothukudi corridor project

The State Industries Promotion Corporation of Tamil Nadu has floated a special purpose vehicle for developing Madurai-Thoothukudi Industrial Corridor project, Finance Minister O Panneerselvam said today.

By: | Chennai | Published: July 21, 2016 9:03 PM
On the special purpose vehicle -- Madurai-Thoothukudi Industrial Corridor Development Corporation -- he said, "It has been formed to implement the project and was expedited for land acquisition." (PTI) On the special purpose vehicle — Madurai-Thoothukudi Industrial Corridor Development Corporation — he said, “It has been formed to implement the project and was expedited for land acquisition.” (PTI)

The State Industries Promotion Corporation of Tamil Nadu has floated a special purpose vehicle for developing Madurai-Thoothukudi Industrial Corridor project, Finance Minister O Panneerselvam said today.

SIPCOT is in the process of developing land bank for the project, Panneerselvam said while presenting the budget for 2016-17.
The Madurai-Thoothukudi Industrial Corridor Project will help bring investments of about Rs 25,000 crore and generate employment for 1 lakh people, he said.

On the special purpose vehicle — Madurai-Thoothukudi Industrial Corridor Development Corporation — he said, “It has been formed to implement the project and was expedited for land acquisition.”

SIPCOT currently has 19,000 acres of land in nine southern districts — Ramanathapuram, Pudukottai, Dindigul, Sivaganga, Theni, Virudhunagar, Thoothukudi, Tirunelveli and Kanyakumari, he said.

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