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Chemicals and petrochemicals sunrise industries for TN: Minister
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SME Times News Bureau | 25 Nov, 2021
Tamil Nadu Minister for Industries Thangam Thennarasu on Thursday said
the state government has leveraged investments for setting up three
large petrochemical projects in Nagapattinam, Thoothukudi and in
Cuddalore.
Speaking at the 'Global Chemical and Petrochemical
Manufacturing Hubs in India' event held in Delhi, Thennarasu said the
state government has categorised specialty and petrochemicals as sunrise
sectors to extend financial support through additional incentives.
He
said the government has leveraged investments for setting up of three
large petrochemical projects in Thoothukudi, Nagapattinam and in
Cuddalore.
"This will ensure supply of all required feedstock to
strengthen and position the state as the petrochemical investment
destination," he said.
The Chennai Petroleum Corporation Ltd
(CPCL) has commenced work on the Rs 31,580 crore, 9 million metric ton
per annum (MMTPA) grassroots refinery at Nagapattinam.
Interestingly,
the Tamil Nadu government recently withdrew the bid for proposed
Detailed Project Report (DPR) for the petrochemical cluster planned in
Nagapattinam owing to opposition from the farmers and others.
According
to Thennarasu, Tamil Nadu is the third largest contributor to the
country's chemical output housing more than 2,500 chemical industries
with a strong chemical industrial ecosystem.
He said the
confidence of the investors in Tamil Nadu was showcased recently in
Coimbatore where over 50 large companies committed to invest in projects
over Rs 33,000 crore with an employment generation for 75,000 people.
Thennarasu
said the vision of the Tamil Nadu government and the Union government
are aligned together to capitalise the manufacturing sector's growth
potential and domestic demand available in the country, at large.
He
also said the government has set up Tamil Nadu Polymer Park spread
across 306 acres near Chennai to cater to the needs of plastic
manufacturing and logistics while a pharmaceutical and textile park have
been proposed.
The government is strengthening the cross-country and City Gas Distribution pipeline to ensure feedstock availability.
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