Works on Chennai - Bengaluru corridor - Ponneri as a mega engineering hub
Posted on: 22/Feb/2020 10:09:58 AM
Delhi-Mumbai Industrial Corridor Trust or DMIC is involved in the preparation of master plan for Ponneri node of the Chennai-Bengaluru industrial corridor. The works on the Chennai-Bengaluru industrial corridor would begin soon.
For the sake of developing Ponneri node, TIDCO of state government has associated with NICDIT of central agency. On Friday, 21st February, an agreement was signed at the diplomatic outreach event inaugurated by the chief minister of TN, Mr. E. Palaniswami. It must be taken into account that JICA has prepared the overall master plan for the project. For automobiles as well as for machinery industries, Ponneri would become an engineering hub.
Over an area of 21966 acres, Ponneri Node would be set up and an amount of Rs 32713 crores would be spent for this. This was as per the suggestions made by JICA. Only after the formation of SPV or Special Purpose Vehicle of Rs 3000 crores, a clear picture would be got. Important point is MICDIT would be the apex authority for the development of the corridor.
It is said that TIDCO, a chief executive officer, state government PSUs, plus others like Ennore and Kattupalli Port, private sector players etc would be present in SPV. Equity funding, loans and accruals would play their roles in providing funds for the development of Ponneri Node. Information is Ponneri falls close to Kattupalli and Kamarajar ports and hence it was selected. A master plan has been drafted for the Salem-Dharmapuri node also and it was included recently after the corridor was extended till Kochi.
