After attracting large investments, the industrial development center has reached the saturation point; Acquisition of 1,500 acres and adjoining land is underway
After attracting large investments, the industrial development center has reached the saturation point; Acquisition of 1,500 acres and adjoining land is underway
The Gangaikondan Sipcot Industrial Development Centre, which was built with 2,000 acres on the outskirts of the city, has reached the saturation point and therefore acquisition of land adjacent to 1500 acres is underway.
After the Industries Department failed to attract significant investments in the 20-year-old Nanguneri Multiproduct Special Economic Zone, which has only 13 small units even after two decades, steps were taken to attract investors to the Gangaikondan Sipcot Centre, which Was working with only. Small and medium sized industries.
After housing ATC Tyres, Nova Carbons, Ramco Asbestos, Beverage Bottling Plant and a few more small and medium manufacturing units, the Gangaikondan facility has now attracted an investment of around Rs 5,000 crore. Now it has solar modules, biscuits and manufacturing units. Hi-tech sensors by market leaders including Tata Power Solar, Vikram Solar, Britannia and Bosch.
heavyweight
Bosch starts manufacturing high-tech sensors
Britannia invests ₹550 cr on 80 acres of land
Tata Power Solar and Vikram Solar planning to invest ₹2,000 crore each
Germany-based Bosch has started manufacturing high-tech sensors. Britannia, which has invested ₹550 crore on 80 acres of land, provides direct employment to 350 persons. It is expected to be operational in two months.
Tata Power Solar and Vikram Solar plan to invest Rs 2,000 crore each in two or three phases. Tata Power Solar, which has acquired 285 acres of land, has started grading and leveling of land, which is expected to provide direct employment to around 800 people and indirect employment to so many.
“The production of solar modules at Tata’s venture will start within a year as the construction of the plant will start within a month,” said a senior industry department official.
Kolkata-based Vikram Solar, the largest solar module manufacturer in India, with 2.5 GW of module manufacturing capacity annually and the second largest solar power company in India by revenue, is setting up its unit on 200 acres.
“Vikram Solar will invest Rs 2,000 crore in 200 acres in the Gangaikondan center to provide direct employment to around 800 people with diploma, ITI trade, arts and science and engineering degree qualifications,” the official said. Will start within the next 90 days, and production will begin within a year thereafter.
ancillary units
Some more companies supplying raw material to these units are also coming up. As the investment of 2,000 acres of land acquired for the Gangaikondan center has come to an end, efforts are on to acquire another 1,500 acres.
An official of ONN Nanguneri SEZ said, “We are trying to attract investors. Since 2,500 acres of SEZ land is with the promoter, we are in the process of taking back the land as it failed to attract investment.