TN to unveil hydrogen energy, ethanol policies

The State’s manufacturing sector has to take centre-stage in economic development so that Tamil Nadu can progress towards the $1 trillion economy by 2030-31, said Minister for Industries Thangam Thennarasu on Tuesday.
TN to unveil hydrogen energy, ethanol policies
Minister Thangam Thennarasu.File photo

IN THE ASSEMBLY

CHENNAI: The state on Tuesday proposed to unveil separate policies for Hydrogen energy and ethanol.

Replying to the debate on the demand for grants for his department, state Industries Minister Thangam Thennarasu said the government would unveil a Hydrogen Policy to encourage investment in production of hydrogen energy (green and blue hydrogen). Similarly, a new Ethanol Policy 2022 would be unveiled to reduce demand for oil-based energy and improve environmental standards and ensure mixture of ethanol with fuel.

New SIPCOT near Hosur

The Minister also informed the House that a new SIPCOT industrial estate would be set up at an estimated cost of Rs 1,800 crore spread across 3,000 acres spread across Nagamangalam village in Denkanikottai taluk and Ayanampalli in Shoolagiri taluk. The estate is expected to fetch Rs 21,000 crore investment and generate 16,800 direct and indirect jobs.

Thennarasu further informed the Assembly that only a fourth of the investment promised in the two editions of Global Investors Meet (GIM) during the previous AIADMK regime were realized by the state.

He said that only 24 per cent of the Rs 2.42 lakh crore and 26 per cent of the Rs 3 lakh crore promised in the first and second editions of GIM in 2015 and 2019 in the previous AIADMK regime was realised by the state.

On setting up a second international airport in the state capital, the Industries Minister said that four venues were identified and forwarded to AAI for establishing the green airport. They have given us feedback. We will finalise the land for the international airport soon.”

Industries, Investment Promotion, Commerce Department new name

The Minister also announced that the Industries Department would be renamed as Industries, Investment Promotion and Commerce Department and a new commissionerate would be established by the department to simplify attraction of investment at the state level. Managing director and CEO of Guidance Tamil Nadu would serve as its ex-officio commissioner.

Rs 23L cr trageted for investments in manufacturing

The State’s manufacturing sector has to take centre-stage in economic development so that Tamil Nadu can progress towards the $1 trillion economy by 2030-31, said Minister for Industries Thangam Thennarasu on Tuesday.

According to the Policy Note presented in the Assembly by Thennarasu for 2022-23, Tamil Nadu has been recognised for its well-developed manufacturing eco-system and the state is on track to ensure this sector grows from $48.1 billion in financial year 2020-21 (18% of gross state domestic product-GSDP AGSDP) to $250 billion in fiscal 2030-31 (25% of GSDP). Thennarasu said the government is undertaking several measures to attract approximately Rs 23 lakh crore of investment in manufacture and create employment opportunities for 46 lakh people, necessary to achieve its growth target.

Highlights of the announcements.
Highlights of the announcements.

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