EoI was invited from Indian and overseas firms in May
As many as 45 proposals have been received by the Tamil Nadu Industrial Development Corporation (TIDCO) for putting up joint venture projects to establish COVID-19-related facilities in the State.
This was in response to the Corporation inviting in May expression of interest (EOI) from Indian and overseas companies. At that time, the TIDCO had stipulated that the minimum amount of investment by each private partner should be ₹50 crore.
According to officials dealing with the matter, the entire lot of 45 proposals has been divided broadly into two categories, depending upon the level of requirements and expectations of project proponents, besides the kind of support required to be provided by the authorities. The first category, covering 30 proposals, is being handled by the Guidance Bureau also for enabling the project proponents to get clearances from different agencies and departments. In respect of the remaining 15 proposals, which fall under the second category, the TIDCO is having discussions with project proponents with regard to matters such as preparation of detailed project reports and equity participation.
As per a provisional assessment, six of the proposals are for oxygen units; five for vaccine; four for drug manufacturing and seven for high-end medical devices; and eight for units combining the manufacture of more than one product. The officials clarified that the TIDCO has not identified or earmarked any specific zone or area for the establishment of the proposed units. In other words, the project proponents have the freedom to pursue their projects in areas where they want to, and the authorities, including the TIDCO, would be willing to help them set up the units to the extent possible, the officials explain.
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