Tamil Nadu plans to develop an airport in Hosur’s industrial belt

Airport slot

The Tamil Nadu government has planned to develop a new airport in the industrial belt of Hosur (in Krishnagiri district and located about 40 km from Bengaluru), and a study on air traffic and other aspects has been ordered, state Industries Minister Thangam Thennarasu said on Tuesday, April 19.

The Tamil Nadu Industrial Development Corporation Ltd (TIDCO) has been directed to undertake a study on the air traffic and its growth in surrounding regions, market demand and potential sites for developing an airport in Hosur, which is one of the industrial hubs in the state, he said. TIDCO is in the process of selecting a consultant for undertaking the study.

“Considering the industrial growth, regional economic growth, tourism, per capita income growth rate in the northwest region of Tamil Nadu and interest of the travelling public, the government intends to develop a new airport in this region,” a policy note on industries department tabled in the Assembly, said.

Tamil Nadu plans to develop an airport in Hosur’s industrial belt

On the proposed new airport at Neyveli, the note said infrastructure facilities for flight operations (at Neyveli airport) are ready and that licence from the Director General of Civil Aviation is awaited. “Flight operations will commence thereafter,” the note added.

TIDCO will establish an Aero Hub as part of the Tamil Nadu Defence Industrial Corridor within the Aerospace Park in Sriperumbudur.

This project will be implemented in two phases. Phase-1 will be implemented by TIDEL Chennai with a built-up space of 3.5 lakh sq. ft. for INR 230 crore and will be completed by February 2023.

On Chief Minister M K Stalin’s ambitious target of making Tamil Nadu a USD 1 trillion economy by the 2030-31 fiscal, the note said this can be achieved only if the manufacturing sector takes the centre stage for economic development.

TIDCO will establish an Aero Hub as part of the Tamil Nadu Defence Industrial Corridor within the Aerospace Park in Sriperumbudur.

“Tamil Nadu is recognised for its well-developed manufacturing eco-system and the state is on track to ensure this sector grows from USD 48.1 billion in 2020-21 fiscal (18% of GSDP) to USD 250 billion in 2030-31 fiscal (25% of GSDP),” the note said.

Steps are on to attract approximately INR 23 lakh crore of investment in the manufacturing sector and for the creation of employment opportunities for 46 lakh people, which are necessary to achieve its growth target, it further stated.

Also, a sharp focus on the logistics sector is essential to strengthen the competitive advantage of the state and to propel it to a high growth path for realising the USD 1 trillion economy target.

This will accommodate both domestic and overseas financial institutions.

Hence, the state Logistics Policy will focus on the key elements like regulatory framework; interconnected infrastructure; digital transformation; training and skill development in the state.

The objective of the Logistics Policy is to facilitate and develop an integrated logistics ecosystem in Tamil Nadu, to enhance competitiveness, operational efficiency and sustainability through innovation, skilled manpower, quality and disruptive technologies; thereby strengthening Tamil Nadu’s position as the most preferred destination for trade and commerce.

A Fintech City will be developed by TIDCO on around 122.69 acres of land in Nandambakkam here, to make Chennai a global financial centre. This will accommodate both domestic and overseas financial institutions.

The feasibility report for the project has been completed and the state government has granted entry upon permission to TIDCO for 61.09 acres of land in Nandambakkam and transferred the land to TIDCO for establishing the Fintech City project.

It has also been proposed to establish a Fintech Tower of international standards, with a built-up area of 5 lakh sq. ft as part of Fintech City for Fintech companies to establish their operations.

Further, to develop a startup ecosystem in the state, it is proposed to create a Startup Hub, an iconic structure in the Fintech city to provide space to startups. A detailed master plan for this project is being prepared.

TIDEL will set up Mini IT Parks (TIDEL Neo) of 50,000 to 1,00,000 sq.ft. in Tier-2 & Tier-3 urban centres of Tamil Nadu.

TIDCO is in the process of selecting a Project Management Consultant for this project. TIDEL will set up Mini IT Parks (TIDEL Neo) of 50,000 to 1,00,000 sq.ft. in Tier-2 & Tier-3 urban centres of Tamil Nadu. The government will provide land for the development of these TIDEL Neo Parks.

TIDCO will represent the government of Tamil Nadu in the SPV. In the first phase, it is proposed to set up TIDEL Neo Parks in Villupuram, Thoothukudi, Vellore, Tirupur and Salem districts and other districts in subsequent phases.

In Villupuram, Thoothukudi, Tiruppur and Salem, suitable land parcels have been identified and Project Management Consultants have been appointed.

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