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Companies invest Rs 300 cr in GK Industrial Park


When it is complete in about three years, the GK Industrial Park Pvt Ltd, an industrial estate coming up at about 25 km from Tiruchi, will provide employment to some 10,000 persons.

The industrial park, promoted by an industrialist Mr K G Muralidharan and owned by IL&FS Investment Managers Ltd, is coming up on 600 acres. The park, to create which the promoters will invest Rs 250-crore, will have all the facilities a manufacturing unit would require – roads (big enough to handle heavy cargo), electricity and water supply, common sewage system and other support facilities such as a health centre and training facilities. And, the promoters are also looking at a residential township and educational institutions in the neighbourhood, Mr Muralidharan, Managing Director, GK Industrial Park, told a press conference here today.

As of today, the park company has sold over 100 acres of developed land. Companies that have purchased land have so far invested Rs 300 crore in setting up their units.

Mr S. Ravindra, Vice-President, IL&FS Cluster Development Initiative Ltd, said that when fully complete, the park would attract investments of around Rs 2,500 crore. The units in the park would manufacture goods worth Rs 1,000 crore each year, he said.

IL&FS paid Rs 80 crore for 82 per cent of GK Industrial Park Pvt Ltd, a couple of years back.

Reaping realty benefit

The promoters are projecting the industrial park as an alternative manufacturing location to units in Chennai too. A company with a unit in an industrial estate in Chennai could take advantage of the high real estate prices, sell off its existing unit, realise the land value and re-locate to Tiruchi (GK Industrial Park), for only a part of what it earned by selling its unit. Proximity to Karaikal port (125 km away) and the relatively cheap labour at Tiruchi are some of the other advantages, said Mr S. Senguttuvan, Chief Executive, GK Industrial Park.

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