Tamil Nadu chief minister M K Stalin on Friday announced that a Tidel Park would be set up in Madurai city.
Addressing the south zone industrial conference in Madurai, Stalin hoped that the proposed Tidel Park would provide the infrastructure for information technology and FinTech companies. It would boost industrial growth of Madurai and create 10,000 jobs in the city, he said.
He recalled how the first Tidel Park that was launched by then chief minister M Karunanidhi resulted in the IT revolution in Chennai. Likewise, the state government with the help of Tidel is setting up Tidel Neo (mini IT Park) in Coimbatore, Ooty, Vellore, Tirupur, Villupuram, Tuticorin, Salem and Thanjavur to extend the IT growth to Tier II cities in Tamil Nadu.
He said Madurai City Corporation and Tidel would form a special purpose vehicle to set up this pioneering IT park in Madurai’s Mattuthavani. It would be executed in two phases. The first phase would be set up for a project outlay of Rs 600 crore on five acres of land. The second phase would also be executed of five acres of land, he said.
He stated that the Tidel Park would create necessary infrastructure for the knowledge based industries as well as FinTech companies of Madurai and the region.
“The state government executes projects in a way that they will create industrial growth in the region,” he added.