Aerospace policy, FSI increase get Cabinet nod

In the second meeting of the year, the state Cabinet approved the Aerospace policy that was already assured in Governor’s address, delivered in the Assembly. According to sources in Industries Department, Aerospace Policy will enable setting up of ancillary aerospace manufacturing units in the state. The policy will be announced soon and will be implemented to attract foreign investments in the sector, said sources.

Sources also said that the cabinet had given approval for increasing the Floor Space Index (FSI) from 1.5 to 2. The increase in FSI had been demanded by private builders for long to facilitate construction of additional floors in apartments. A Government Order (GO) would be passed soon for implementation, said the sources.

However, the key discussion in the Cabinet meeting was on the upcoming second edition of Global Investors Meet (GIM) to be held on January 23 and 24, in Chennai.

Sources said that the Cabinet, in principle, have approved 11 new companies which have assured to invest Rs 20,000 crore in the state. Nearly, 2,800 companies have registered for the GIM-2, state Industries Minister MC Sampath said.

Speaking to DT Next, after the Cabinet meeting, Sampath said, “Registration is going on for GIM-2 and we are expecting around 3,500 companies to participate in the meet. Among the 3,500 companies, around 1,000 would be multi-national companies.”

Sampath also said that in GIM-1, conducted in 2015, 64 companies have given assurance to invest Rs 67,387 crore. Out of the 64 companies, 22 have already started their production and eight are about to start. The remaining 34 companies are in various stages such as land acquirement. “Among the 34 companies, six are refineries which will take at least three to seven years to materialise and top IAS officials are in talks with the refineries for easing the investments,” said Sampath.

Sampath further said that Chief Minister Edappadi K Palaniswami is keen on making GIM-2 a success and to get investments exceeding GIM-1. All possible steps have been taken to ensure that GIM-2 attracts maximum investors and investments for the state.