Tamil Nadu set to develop ‘Aerospace Park’ worth Rs.198 Cr for attracting investments globally

Chennai, October 26: Tamil Nadu soon to come up with ‘Aerospace Park’. On Wednesday, the state government laid the foundation stone for Aerospace Park in Kancheepuram district. The aerospace park would have engineering and allied industries for the manufacture of aerospace components. 

Aerospace Park would draw investments around Rs 1,000 Crore and also boost employment at high scale. Chief Minister K Palaniswami laid the foundation stone for the aerospace park at Vallam-Vadakal SIPCOT Industrial Park premises in Sriperumbudur Taluk and gave away land allotment orders to nine companies.

The aerospace park would have engineering and allied industries for the manufacture of aerospace components and the initiative was part of the government’s ongoing push for industrialisation in the state, an official release here said.

The facility would come up over 245 acres of land at an estimated cost of Rs 198 Crore and was being implemented by State Industries Promotion Corporation Ltd (SIPCOT) and Tamil Nadu Industrial Development Corporation Ltd (TIDCO), the release said. “About 50 companies are expected to set up their units here even as efforts are on to attract global aviation firms to Tamil Nadu,” it said.