TIRUNELVELI (03 Mar 2011): Fifteen companies have entered into Memorandum of Understanding (MoU) to set up manufacturing facilities in Nanguneri Multi Product Special Economic Zone, said the AMRL Liaison Manager, Devarajan.
AMRL Hi-Tech City Limited is the promoter of the Multi Product Special Economic Zone at Nanguneri in Tirunelveli district. It is a joint venture between AMR group of Hyderabad and Tamil Nadu Industrial Development Corporation Ltd (TIDCO).
The SEZ has a total area of around 2,520 acres. Of this, processing zone (industrial and IT Park) constitutes 1,780 acres and non processing zone 740 acres, which would house social infrastructure including housing, educational institutions, hospitals, malls and hotels.
On Tuesday, Devarajan and Tirunelveli District Chambers of Commerce and Industry president C Gunasingh jointly conducted a press meet at the SEZ premises in Nanguneri.
Devarajan said that 500 acres of land is being developed in the first phase at Nanguneri Multi Product SEZ and fifteen companies, including 2 Dubai-based companies, had entered into a MOU with AMRL Hightech City Ltd.
Of them, Great Shine Engineering Pvt Ltd, a subsidiary of Zynergy Capital Private Ltd of Singapore, would manufacture solar panels and solar cells. It was expected that the company would invest over `1,500 crore here in a phased manner on around 40 acres of land, which was given on lease to the company. Around 10,000 persons would get employment. The company would be functional in a period of 18 months’ time. More than 80 acres were allotted to the companies. Besides, Global Software would start operations on 1,500 square feet at the administrative block building and start exports by the end of this month.
He noted that absence of star hotels and an airport near here were the main reasons for foreign companies hesitating to open shop here. So far, around `50 crore had been spent on the project.
To a question, he said that no environment clearance had been obtained from the state and central governments.
Gunasingh said that his company - Bell Pins Pvt Ltd would also start a factory here and added that small and medium industries would be given importance. He noted that Minimum Alternative Tax would be set for SEZ growth. It may be noted that no senior officials of AMRL and TIDCO participated in the press meet.
Source: ExpressBuzz.com
