Tamil Nadu government?s new amendment to pave way for a mega project!

The only hindrance that reportedly stands in the formation of a special purpose vehicle is the amendment. After the act is amended, a dedicated authority will be formed for each proposed node and the industrial townships will be informed.

There are reportedly six nodes of the project, namely Ariyalur and Perambalur, Thoothukudi-Tirunelveli, Tiruchy-Pudukottai-Sivaganga, Ramanathapuram (proposed national investment and manufacturing zone), Madurai-Virudhunagar-Dindigul-Theni and Cuddalore-Nagapattinam (the proposed petroleum, chemicals and petrochemicals investment region).

The investment required for the entire project is reportedly Rs 2.81 trillion. The first phase of the CKIC project, consisting of the Madurai-Virudhunagar-Dindigul-Theni and Thoothukudi-Tirunelveli nodes, will need an investment of nearly Rs 910 billion.

According to reports, the project will be forwarded to the Department of Industrial Policy and Promotion (DIPP) after the amendment of the act. After that, the Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) will receive it from the DIPP to prepare a master plan.

The annual manufacturing output is likely to jump from about $41 billion to $163-$222 billion by 2035, as per a development plan charted out by the Asian Development Bank. The corridor influence area will reportedly cover 23 of the 32 districts of Tamil Nadu, accounting for 58 per cent of all registered manufacturing enterprises in the state. A combination of anchor cities and growth centres will reportedly form the urban strategy for the project and emphasis will be laid on manufacturing. Anchor cities form a crucial component in attracting targetted industries. According to reports, Cuddalore, Thanjavur, Pudukottai, Madurai, Tiruchy, Karaikudi, Thoothukudi, Manaparai Perambalur and Tirunelveli will play the role of the anchor cities.