Wednesday, March 04, 2009

Cuddalore-Chennai-Bangalore-Mumbai Industrial Corridor

Nod for extension of Industrial Corridor - The Hindu
N. Anand

CHENNAI: The Union government has given its nod for the extension of the Chennai-Bangalore Industrial Corridor up to Cuddalore, an official of the State Industrial Promotion Corporation of Tamil Nadu (SIPCOT) said.

“What was started as an experimental industrial corridor from Chennai to Hosur has assumed a new dimension, with the recent approval from the Centre. The industrial corridor starts at Cuddalore and ends in Mumbai, and it has been rechristened Cuddalore-Chennai-Bangalore-Mumbai Industrial Corridor,” SIPCOT Chairman and Managing Director N. Govindan told The Hindu.

The extension will mean inclusion of important places such as Puducherry, Tindivanam, Chengalpattu, Tambaram and Oragadam, along with Tier-II and Tier-III cities, to provide competitive infrastructure and promote inclusive and sustainable industrial development up to Mumbai.

The Chennai-Hosur industrial corridor is developed in two phases. The United Kingdom-based Mott McDonald has submitted an interim report for the first phase that will span from Chennai-Sriperumbudur to Ranipet. The second phase starts at Ranipet to reach Bangalore through Hosur. . The draft concept paper was conceived by the Department of Industrial Policy and Promotion and the Union Ministry of Commerce of Industry. “After going through the interim report, we have made some suggestions to Mott McDonald. After incorporating the changes, the consultant is expected to submit one more report in the next two weeks,” Mr. Govindan said.

On Monday, the SIPCOT board cleared an industrial corridor connecting Madurai and Tuticorin. The board will shortly float a tender to fix a consultant for conducting a feasibility study.

7 comments:

Martin said...

The real estate is one sector that features as one of the most badly hit sectors following the global economic meltdown. Especially in developing countries like India, where real estate was going great guns, so to say, faced a steep downfall following the recession and inflation. Especially in the metros and the developing cities like Bangalore, real estate suffered dearly as the demand for the residential units, though increasing became a pent up demand. The badly hit economy particularly the IT sector that has a strong foothold in Bangalore, and the high rates of interest in home loans made the demand for residential units go down or at best become a pent up demand. It is believed that once the situation stabilizes the demands would start surfacing. Another very problematic issue that the real estate dealers are facing is that patrons of the currently booked flats are not willing to pay the original price that they had agreed on but the current price that is less than the original amount owing to the current economic condition. Not only the residential units but the commercial properties like the hotels in Bangalore have also naturally seen a drop in their occupancy. The ITC hotels in Bangalore that registered the highest occupancy, as high as 83%, have been forced to cut down on their tariffs by almost 20% as the occupancy has also gone down by 20%. On the contrary, the business hotels in Bangalore are surviving the tough times as the number of business travelers has not been affected as hard as the umber of leisure hotels. The budget hotels in Bangalore have seen a hike owing to the obvious reasons.

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