Chennai, Feb 22 (KNN) The Tamil Nadu government will set up an 'Auto City' in over 1,000 hectare industrial park where global auto giants and the local component makers will be able to set up their manufacturing facilities. The initiative will give a boost not only to the large corporations but also to their vendors in the SME segment.
A special purpose vehicle, Automotive Industrial Development Centre offering investment facilitation to investors would implement the ambitious project, according to the state government.
The Auto City would be equipped with a state of the art logistics hub to provide multi modal transport and common infrastructure like effluent treatment and waste management facilities.
Meanwhile, the Central ministries of shipping will be approached for constructing a multi-level parking in the major ports of the state, as per the policy vision of the state government.
The State government would also promote auto clusters in Tiruchirappalli, Tirunelveli and Tuticorin districts . Madurai and Coimbatore would be provided with additional facilities. The new auto clusters would be promoted by the state agency- SIPCOT.
Tamil Nadu has emerged as a big centre for automobile components, an area with a large presence of the SMEs. The state accounts for 35 per cent of India’s auto component production worth about Rs 40,000 crore.