The Hindu : Tamil Nadu / Chennai News : MoU details can be obtained: Stalin

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Tuesday, May 04, 2010
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Tamil Nadu

Tamil Nadu - Chennai

MoU details can be obtained: Stalin

Special Correspondent

Says Indian and foreign firms were offered same concessions

Between 2006-10 as many as 25 MoUs were signed
Only worry was lack of development up to expected levels in south Tamil Nadu

M.K. Stalin

CHENNAI:There were enough provisions to make public details of MoU (Memoranda of Understanding) entered into by State agencies with multinational firms, Deputy Chief Minister M.K. Stalin informed the Assembly on Monday.

It was not a secret and can be obtained from the departments concerned, he added.

Responding to questions from G.K. Mani (PMK) and K. Balabharati (CPI-M), who contended that the MoU benefited foreign companies and that they were preferred over Indian companies, Mr. Stalin said same concessions were extended to Indian and Tamil Nadu firms.

Explaining one instance of how industry benefits people, Mr. Stalin recalled that the land on which Nokia now functioned belonged to about 30 people. No cultivation was possible on that tract of land. Now, over 6,000 persons worked there. Another 10,000 persons had got indirect employment. Similarly, the belt from Padappai to Oragadam was developed and handed over to various industries because no agriculture was possible on those tracts of land, he added.

Despite the downturn, between 2006-10 as many as 25 MoUs were signed and investment to the tune of Rs.38,433 crore flowed into the State, he said.

The only worry was the lack of development up to the expected levels in south Tamil Nadu, he said, adding that even this was being addressed. More companies were being encouraged to set up shop in south Tamil Nadu.

Ms. Balabharati pointed out that the main component of development of south Tamil Nadu was the Sethusamudram project. She wanted the government to expedite the process of formation of the channel.

Sports city

Mr. Stalin announced the intention of the government to set up a sports city on 1,500 acres near Chennai. It would be an integrated facility with facilities of international standards. Also, a golf course would be built spread over 200 acres.

The government and the Indian Oil Corporation would set up a Liquefied Natural Gas terminal near Ennore at a cost of Rs.10,000 crore. This would further improve the availability of LNG in the State.

The Kochi–Bangalore gas pipeline would also benefit consumers in Tamil Nadu living in the districts on the path of the pipeline – Coimbatore, Erode, Salem, Dharmapuri and Krishnagiri. Gas was expected to flow into homes in these districts by 2012, he said.

CSR efforts

Answering a question from D. Ravikumar (VCK), Mr. Stalin said that public sector units had allocated a part of their profits for corporate social responsibility. Mr. Ravikumar said most CSR projects had no proper direction and wanted the government to intervene and make sure all companies set a part of their profits for CSR efforts.

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