Krishnagiri gets Special Investment Region as part of government’s aim to promote economy in northern part of Tamil Nadu.
As part of an initiative of the State government to boost economic growth in the northern parts of Tamil Nadu, Chief Minister Edappadi K. Palaniswami on Saturday laid the foundation stone for setting up of a Special Investment Region (SIR) in northern Krishnagiri district to attract investments, reported The New Indian Express.
The SIR, according to the government, would be jointly developed by GMR Infrastructures Limited and the Tamil Nadu Industrial Development Corporation Ltd (TIDCO) and would come up on 2,100 acre area in Denkanikottai and Shoolagiri taluks of Krishnagiri district.
Focus on certain industries
The special investment region, being set up at an estimated cost of 2,420 crores is expected to be fully functional within seven to eight years and is likely to attract investments worth 5,000 crores. Besides, the zone will provide employment to 60,000 persons.
This multi-product industrial investment zone will focus on a variety of industries ranging from biotechnology, renewable energy and other emerging industries besides the traditional electronics, manufacturing and engineering areas. Also, defence and aerospace, electronics and electrical, auto and auto ancillaries, textiles, food processing and logistics and warehousing will be priority sectors in this zone.
The zone is being planned with world class infrastructure and utilities, such as road connectivity, water supply system, water treatment plant, storm/rainwater drainage, electrical distribution system, digital infrastructure network, sewerage treatment plant, solid waste management, solar power plant and power substation.
This zone is envisioned to be a world-class integrated industrial hub. Strategically located 65 km from Bengaluru city, this zone offers multi-modal connectivity with access to two international airports and three seaports. This zone would be part of Hosur, an industrial town.
Industries Minister MC Sampath, Youth Welfare and Sports Development Minister P Balakrishna Reddy, Chief Secretary Girija Vaidyanathan, Industries Secretary K Gnanadesikan, senior officials of State government, GMR group chairman GM Rao and GMR Krishnagiri SEZ chairman M Srinivas were present on the occasion.