CM Palaniswami lays foundation for aerospace park in Tamil Nadu

Chief Minister Edappadi K Palaniswami laid the foundation stone for the aerospace park at Vallam-Vadakal SIPCOT Industrial Park premises in Sriperumbudur Taluk and gave away land allotment orders to nine companies.

Late Chief Minister J Jayalalithaa had proposed the aerospace park a few years ago.

The aerospace park would have engineering and allied industries for manufacture of aerospace components and today's initiative was part of the government's ongoing push for industrialisation in the state, an official release said.

The facility would come up over 245 acres of land at an estimated cost of Rs 198 crore and was being implemented by State Industries Promotion Corporation  Ltd (SIPCOT) and Tamil Nadu Industrial Development Corporation Ltd (TIDCO), the release said.

"About 50 companies are expected to set up their units here even as efforts are on to attract global aviation firms to Tamil Nadu," it said.

It was expected to attract Rs 1,000 crore worth investments in five years and provide 10,000 direct job opportunities.

About 25,000 persons would benefit from indirect job opportunities, it added.

To further aid the aviation industry, the government has also proposed to set up a Computing and Designing Centre, the release said.

The proposed Rs 350 crore centre would have among others, avionics manufacturing facility, skill development centre and components designing unit, it said.

The Tamil Nadu government was keen on promoting aerospace and military hardware industries, it added.