Chennai, Oct 25 (IANS) Tamil Nadu Chief Minister K. Palaniswami on Wednesday laid the foundation for a 245-acre aerospace components park in Kanchipuram district that is expected to attract an investment of Rs 1,000 crore in five years.
The government said that in order to strengthen the aerospace components industry, a computing and designing centre costing Rs 350 crore and spread over 10 lakh square feet will also be set up through Tamil Nadu Industrial Development Corp Ltd (TIDCO).
According to the statement, the aerospace components park will involve an outlay of Rs 198 crore and is built by TIDCO and State Industries Promotion Corp of Tamil Nadu (SIPCOT). Around 50 companies are expected to set up shop in the park.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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