Tamil Nadu Chief Minister Edappadi K Palaniswami laid the foundation stone for the GMR Krishnagiri Special Investment Region through video conference from the state secretariat in Chennai.
An official statement said the Rs 2,420 crore project, spread across 2,100 acres, is a joint venture between the Tamil Nadu Industrial Corporation Ltd. (TIDCO) and GMR Group.
It said further: “On completion in 7 to 8 years’ time, the project is expected to attract investments to the tune of Rs 5,000 crore and create about 60,000 jobs.”
World-class infrastructure and utilities such as road connectivity, water supply system, water treatment plant, storm/rain water drains, water and power sub-station and internet connectivity would be developed in the Special Investment Region.
A presentation from GMR said the project would leverage locational advantage to create clusters in aerospace, automobile, engineering and electronics sectors. Besides, it plans to attract investments in biotechnology, renewable energy and other emerging industries.
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