PROFILES OF MEMBER CORPORATIONS


State Industries Promotion Corporation of Tamilnadu Ltd. (SIPCOT)

The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) was established in 1971 under the Companies Act with the main objective of promoting medium and large industries in the State of Tamil Nadu. The main activities of the Corporation has been :

  • Developing, marketing and maintaining industrial parks/complexes/growth centres;
  • Extending term loans to medium and large industries; and
  • Administering State incentive schemes.

Consequent on some structural reorganisation, SIPCOT has given up its term lending activity since 2001 and now concentrates mainly on developing industrial complexes apart from servicing the existing term loans.

Over the last 32 years, SIPCOT has been a major contributor to industrial development in Tamil Nadu and has promoted 17 industrial parks/complexes/growth centres in 12 districts of Tamil Nadu which house about 1080 industrial units, with a total investment of over Rs.10,000 crores giving direct employment to nearly one lakh persons.

The industrial infrastructure development activity of SIPCOT commenced with the creation of Ranipet Industrial Complex in the year 1972 over an extent of about 400 acres and till date the industrial land developed by SIPCOT exceeds 20000 acres. The 90's and the early years of the millennium have seen SIPCOT developing industry specific complexes as against the general Industrial Complexes of the earlier times. Cuddalore and Tuticorin for example have evolved, by locational advantages into Chemical and Pharma Industrial Complexes. Perundurai Industrial Growth Centre has transformed primarily into a textile and tanning industrial zone. Among the recently developed industrial parks, Irungattukottai park on the periphery of Chennai has developed into an auto and auto-ancilliary park while the park at Siruseri is being developed as an exclusive Information Technology Park. Of late, SIPCOT is concentrating on developing complexes for specific activities like Food Park, Apparel Park and Eco-enterprises Park. It has also branched out into promoting major industrial infrastructure like hazardous waste management facility, common effluent treatment plants, etc.

I am always doing that which
I can not do, in order that
I may learn how to do it.