The Tamil Nadu government has approved the project structure for the Rs 1.83-lakh crore Madurai-Tuticorin Industrial corridor and has decided to set up a new financial institution to support funding for large infrastructure projects. The decision was taken at a meeting of the Tamil Nadu Infrastructure Board headed led by the former Chief Minister J Jayalalithaa.
The Board also approved plans to set up a two large sea water desalination projects to the South of Chennai to augment drinking water supply to the city. The project structure of the Madurai-Tuticorin Industrial (MTI) Corridor will cover 29 projects spanning the southern districts of Madurai, Sivaganga, Virudunagar, Tuticorin, Tirunelveli, Ramanathapuram and Kanyakumari. The total outlay envisaged for this mega project is about Rs. 1,83,819 crore. There are also plans to have a 800-MW thermal power project in Tuticorin.