Tamil Nadu Industries Minister Thangam Thennarasu told the media that the state government has planned to develop a new airport in the industrial belt of Hosur and has ordered a study on air traffic and other aspects.
Tamil Nadu Industrial Development Corporation Limited (TIDCO) has been directed to undertake a study on air traffic, growth in surrounding regions, market demand and potential sites for developing an airport in Hosur.
The infrastructure facilities for flight operations at Hosur’s Neyveli airport are ready, and a licence from the Director-General of Civil Aviation is being awaited. Flight operations will commence after getting the approval licence.
TIDCO will establish an Aero Hub in the Aerospace Park in Sriperumbudur. This project will be carried out in two phases. Phase-1 will be implemented by TIDEL Chennai, having a built-up space of 3.5 lakh sq ft at Rs 230 crore and will be completed by next year in February.
On CM M K Stalin’s ambitious target of making Tamil Nadu a US $1 trillion economy by 2030-31, steps are undertaken to attract around Rs 23 lakh crore of investment in the manufacturing sector and create employment opportunities for 46 lakh people.
A sharp focus on the logistics sector is essential to strengthen the state and push it to a high growth path for the $1 trillion economy target.
The Logistics Policy aims to facilitate and develop an integrated logistics ecosystem across Tamil Nadu, to enhance competitiveness, operational efficiency and sustainability through innovation, skills, quality and the latest technologies.
TIDCO will also develop a Fintech City on around 122.69 acres of land in Nandambakkam to make Chennai a global financial centre. It will include domestic and overseas financial institutions.
The feasibility study for the project has been completed, and the state government has granted entry to TIDCO for 61.09 acres of land in Nandambakkam for developing the Fintech City project.
It has been proposed to set up a Fintech Tower of international standards, with a built-up area of 5 lakh sq ft as part of Fintech City to establish their operations. It has been proposed to create a Startup Hub in the Fintech city to provide space to startups. A detailed master plan for this project is under preparation.
TIDEL will set up Mini IT Parks, TIDEL Neo, of around 50,000 to 1,00,000 sq ft in Tier-2 and Tier-3 urban centres of Tamil Nadu, and the land will be provided by the government.