Rs 925 cr Ponneri Industrial park layout likely to get DTCP approval

C Shivakumar @ Chennai:

The Rs 925 crore joint venture Industrial park being set up in Ponneri by Japanese major Sumitomo and Mahindra and Mahindra is likely to get clearance from Directorate of Town and Country Planning.

The project which was stalled due to clearances from Directorate of Town and Country Planning is likely to get approval after a Empowered Committee has okayed the project.

Sources in DTCP indicated that the layout map will be completed within two weeks. The project was one of those that was signed during the Global Investor’s Meet and was supposed to be completed in two phases.

The project is also facing issues over alienation of 41.765 acres of government land as well as transfer of 19.06 acres of belonging to Hindu Religious and Charitable Establishment.

Mahindra and Mahindra officials refused to comment on the issue.

The industrial park is to be set up near the proposed smart city planned by Japan International Cooperation Agency (JICA).

It is learnt that Under the joint venture Mahindra would be holding 60 per cent stake while Sumitomo Corporation would have 40 per cent stake.

Meanwhile, the layout of Rs 3,000 crore Coddissia Industrial Park in Mopperipalayam in Coimbatore has got the approval of DTCP and a Government Order has been passed to change land use from agriculture to industrial use, DTCP sources said,

DTCP also said that the second phase of Industrial Park being set up by KEF, India's only integrated offsite manufacturing company, in Krishnagiri is under scrutiny of DTCP. The first phase has already been approved, sources added.

This comes as the state has received just Rs 29,615 crore in investments of the Rs 2.42 lakh crore promised by various industrialists at the global investors meet in September 2015.

It is learnt that mots of the investments are yet to be realised due to various issues like identification of land and other approvals from different government agencies.

For some of the projects, the delay is due to pending allotment of land while in some projects, the developers were yet to submit the proposals to the planning agencies.