Tamil Nadu - Chennai   

Efforts to bridge funding gap

Priscilla Jebaraj

Several options are being considered to bridge funding gap

CHENNAI : The infrastructure upgradation projects at the Guindy, Ambattur, Thirumudivakkam and Thirumazhisai industrial estates will all be completed by September 2007, says Industries Commissioner M. Raman.

Speaking to The Hindu after the review meeting on the current status of these projects, he said that several options were being considered to bridge the funding gap caused by the delay in implementation.

While additional grants would be sought from the Central and State Governments, there could also be an attempt to restructure the projects. Mr. Raman said that alternative funding routes, such as subsidy for the sewerage works under the Jawaharlal Nehru National Urban Renewal Mission, were also being explored.

Since the new deadline is over six months behind the original schedule, the costs are likely to be Rs. 4 crore higher than the original budget in the case of Guindy, and Rs. 12 crore higher in the case of the other three estates.

Estate representatives also told Mr. Raman that funding for maintenance and conservancy work required a revenue sharing arrangement with local authorities, since the Industrial Township Act, 2001, which would enable the estates to collect local body taxes, had not yet been notified. Mr. Raman said a policy decision on revenue sharing would come soon, possibly before the next budget.

The meeting was attended by officials including Tamil Nadu Small Industries Development Corporation Managing Director Shanthini Kapoor, and directors of the estate infrastructure upgradation companies.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Will Bill scrapping CET stand legal scrutiny?
I still have a lot to learn about acting, says Sangavi
Muslim groups want masjid reconstructed at the same site
"Market-driven strategies worsened Dalits' economic situation"
Anganwadis as bad as roads, drains in suburbs
Special teams to probe K.K. Nagar assault
This dog show is serious business
Vikram inaugurates CHILDS Trust Hospital's paediatric trauma unit
PWD plans improvement works in Porur lake
Government urged to frame rules to monitor fertility centres
Fusion music concert `Remember Shakti' today
Panel asks CMDA to list violations
Satyabhama University ties up with ISRO
Walkout by CPI(M), MDMK; AIADMK members evicted
Assembly passes resolution to introduce Tamil as the High Court language
Website on M.S. Viswanathan launched
Indian agriculture in crisis, says economist
Science research languishing ``for lack of ideas'
Police officers summoned
First supplementary estimates presented
Designated court told to expedite murder trial
Efforts to bridge funding gap
`Propagate Indian values medicine abroad'
Normalisation method to equate marks
Music and dance festival from December 8
``Spiritual education vital''
Ambedkar remembered
Court summons Nilgiris Collector, Highways engineer
Karunanidhi assures probe
Annual Day celebrated
Bill to extend cooperative special officers' term passed
Government rethink on airport expansion project
`Mobile autograph' service launched
Airline official held in cheating case
Osteoporosis camp held for women police
A day to remember
Scholarship eligibility test
Woman nabbed at airport
A concrete obstacle
DVD on dance launched
Around the City
In Chennai Today

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu