The Hindu : Tamil Nadu News : Government keen on Nanguneri project

Online edition of India's National Newspaper
Friday, Apr 01, 2005

Tamil Nadu

Tamil Nadu

Government keen on Nanguneri project

By Our Special Correspondent

CHENNAI, MARCH 31. The Government is taking steps to get the Nanguneri Special Economic Zone project executed, Industries Minister Nainar Nagenthran told the Assembly today.

Replying tothe discussion on demands for grants to his department, Mr. Nagenthran said though the project was initiated during the previous Dravida Munnetra Kazhagam regime, the All-India Anna Dravida Munnetra Kazhagam Government was keen on implementation and it provided the infrastructure. But the foreign promoter was seeking more time for taking up the project. Normally, within two years of signing the memorandum of understanding, financial closure should be achieved. Now over four years had lapsed.

"InJuly 2004, it was the Commerce Ministry at the Centre, in which the DMK is a constituent, that sent us a communication asking why the project should not be scrapped, if the investordid not give a suitable reply in 60 days. However, we have been taking steps to see to it that the project takes off," the Industries Minister said. His department sent several letters to the promoter.

Phase I of a Rs.450-crore project for constructing a complex to house information technology companies was nearing completion.

The complex, when ready, would provide employment to 17,000 people.

A Rs. 3, 000-crore project would soon be executed with private sector participation in Tirunelveli and Tuticorin districts for producing titanium dioxide.

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