Japan External Trade Organisation (Jetro) on Friday said it is waiting for the state’s government’s approval to begin construction work at their Rs 3,500 crore integrated industrial township here, a top official said.
Earlier this year, the Tamil Nadu government had exchanged documents with Singapore-based Ascendas and Japanese consortium, which includes Jetro, for setting up integrated industrial township - Omega Industrial Project - at an investment of Rs 3,500 crore at the IT corridor near here.
“Omega Township Project is operated by Ascendas (Singapore and two Japanese companies). We have acquired 1,500 acre land at Old Mahabalipuram Road. Now we are waiting for the approval from government to start the construction,” Jetro Director General Shinya Fujii told reporters.
This township is expected to attract investments of Rs 15,000 crore exclusively from Japanese companies.
Omega is expected to be operational in five years and will have a manufacturing zone, besides commercial, residential, institutional and social infrastructure facilities, creating 40,000 jobs.