Coimbatore lures Rs 7352 cr investments so far
Coimbatore seems to be emerging fast as a favoured destination for fresh investments by new domestic and foreign investors in the manufacturing sector. Quoting a review by Centre for Monitoring Indian economy, K Thangaraj, the newly elected chairman of CII Coimbatore, said 82 projects are expected to come up in this district in the next fiscal with an estimated investment of Rs 7,352 crore.Some of these have been announced but not implemented yet, some in the implementation stage and a few others nearing completion. He told a press conference that the investments in the pipeline are in sectors like infrastructure projects, textiles, auto components and engineering.
Investment proposals are from Indian companies, foreign and some joint ventures, he added. In the next three years, an investment of Rs 15,000 crore is expected to be pumped in by bigger and renowned companies into the district to trigger the growth potential, the review said.
CN Ashok, vice chairman of CII Coimbatore said this year, CII has identified agriculture as a thrust area and it is keen on forging a tie up with the Tamil Nadu Agricultural University, to fuel the growth of agro and food processing industry in the region. He added that there is a need for a large industrial park in this region as this could draw large companies to establishing their ventures. Read Related News
