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| Land bank for industrial parks |
| Chief Minister M. Karunanidhi having a look at the document at the Secretariat in Chennai
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| INDIA
, 6-November-2007
0:10:45 AM |
| The Tamil Nadu government will develop a land bank of 10,000 acres with quality infrastructure over the next five years to provide space for industrial parks, according to the new industrial policy released by Chief Minister M. Karunanidhi on Monday.
“The land bank will be mostly developed on dry and barren lands. Prime agricultural lands will be avoided,” the policy said. The government will also take steps to amend laws to enable automatic conversion of drylands from agricultural to industrial use.
Private industrial parks must directly purchase land, which should be barren, non-irrigated and dry, as far as possible. Proposals with more than 10 per cent wet land or double crop land will be rejected, according to the new criteria for an approved industrial park. Parks should be located at least 50 km away from the Chennai city limits and should not include more than 5 per cent of government land.
At least 10 per cent of the area in industrial parks developed by SIPCOT and TIDCO will be set apart for social infrastructure, such as skill development centres, financial services, housing, schools and hospitals. Another 20 per cent of allottable area will be reserved for small and medium entrepreneurs.
Special economic zones and industrial parks promoted by SIPCOT, TIDCO or private developers will all be given equal incentives and facilities. Parks located 50 km away from the city limits will be granted a back-ended Industrial Park Infrastructure Grant of Rs. 2 crore or 25 per cent of the investment in eligible fixed assets, whichever is lower. Such parks must attract at least 20 new manufacturing units with a minimum direct employment of 2,000 persons.
A back-ended state capital subsidy and tax exemption on power bought from the TNEB or from captive sources will be sanctioned for all manufacturing units, including raw-material based manufacturers.
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