TN attracts Rs 30,512-cr investment in 2008-09

Written by fe Bureaus | Chennai | Updated: Aug 31 2009, 05:36am hrs
Tamil Nadu attracted Rs 30,512 crore worth industrial investment in 2008-09, bettering the target of Rs 30,000 crore, deputy chief minister MK Stalin said on Sunday.

Dedicating the Cheyyar special economic zone (SEZ), located inside the Cheyyar Sipcot Industrial Park near here, he said this was possible due to 19 additional industrial investments in the year.

The state had so far attracted Rs 37,595 crore of investment since the DMK government came to power in May 2006, he claimed.

"The state stands third in developing SEZs and industrially backward areas are being identified for setting up production units," he said.

Among the major players to have set up shop in the Cheyyar SEZ is footwear manufacturer Nike, which has invested Rs 164 crore out of the committed Rs 300 crore for which it signed a memorandum of understanding (MoU) with the state government in 2006.

So far, 3,000 persons have been employed there with 85% of them locals, it said. Besides Nike, eight other manufacturing units are coming up on nearly 90 acre out of the total of 275-acre SEZ on an investment of Rs 355 crore.