Chennai, Oct 14 (KNN) In its effort to boost the small scale industry in the state, the Jayalalithaa Government has broadened the capital base of the Tamil Nadu Small Industries Development Corporation Ltd (Tansidco) by infusing Rs 16 crore.
The Chief Minister has approved the raising of the share capital of Tansidco from Rs 8.70 crore to Rs 24.70 crore, according to an official release. The development would bolster Tansidco’s case when it seeks loans from banks and financial institutions.
The decision of the state government to boost the share capital comes at a time when Tansidco is in the process of setting up four industrial estates at a cost of Rs 26.68 crore. Also, it is upgrading infrastructure at two existing industrial estates entailing an expenditure of Rs 6.32 crore.
Jayalalithaa also issued orders for allocation of Rs 2 crore towards improving the infrastructure and buildings of the raw material testing centres for MSMEs in Chennai, Madurai, Coimbatore, Salem and Tuticorin.
Tansidco is a Tamil Nadu state-agency, established to promote small-scale industries in the state. Currently the organisation is maintaining 94 industrial estates across the State.