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Tamil Nadu likely to miss the coastal economic zone too

Tamil Nadu which has a sound industrial base for the manufacturing industry among southern states and a one thousand kilometer long coastline will miss out on the central government coastal economic zone since Niti Ayog has chosen Andhra Pradesh and Gujarat as the states in the East and West coast for setting up these ventures.

Niti Ayog which is entrusted with preparing a detailed project report on coastal economic zones has identified the two states for the central project where investment to the tune of Rs five thousand crores will be pumped in over a period of three years to tone up the infrastructure.

Andhra Pradesh has been bestowed with an exclusive industrial corridor from Visakhapatnam to Chennai by the commerce and industries ministry two years ago. Under the original proposal the corridor was to go up to Tuticorin covering the entire state of Tamil Nadu. The centre however decided not to take up the project and curtailed its length to Chennai.

A high level team from the Asian development bank will prepare a detailed project report for the coastal economic zones in Gujarat and Andhra Pradesh.

The central government is firming up fiscal incentives that may be offered to companies which commit to create certain number of jobs. Centre is also keen to provide massive investment in the two zones for creation of additional infrastructure and a unified industrial tariff regime.

These zones are being planned to provide opportunities to large number of multinational companies which are scouting for locations that could offer low cost labour with world class infrastructure, Vietnam, Bangladesh and Cambodia are offering such facilities to woo the investors.


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