Japan, Tamil Nadu to ink MoU for industrial corridor project

November 8th, 2010 - 6:42 pm ICT by IANS  

Chennai, Nov 8 (IANS) Japan and the Tamil Nadu government are expected to sign a memorandum of understanding (MoU) by the end of this month to take forward the Chennai-Bangalore industrial corridor project.

Disclosing this to reporters here, Japan External Trade Organisation’s (JETRO) Director General Shinya Fujii said: “A senior official of Japanese Ministry of Economy Trade and Industry (METI) is expected to sign the MoU with the Tamil Nadu government.”

The Chennai-Bangalore industrial corridor project envisages building six lane roads, a high speed rail network and industrial estates along the route.

Japan has evinced interest in providing its expertise for the project.

Also, a business delegation led by Hidehiko Yuzaki, Governor of Hiroshima Prefecture, is here to explore investment possibilities in auto components, food processing and environment sectors in Tamil Nadu.

Yuzaki said a business matchmaking seminar will be held here Tuesday and members of the business delegation would meet like minded Indian businessmen to explore joint venture possibilities.

“Nearly fifty percent of the delegates are interested to have an Indian partner to start with and the other half would like to go in alone,” Yuzaki said.

Already four companies from Hiroshima- construction equipment maker Kobelco, rice mill equipment company Satake, pesticide maker Fumakida and precision machinery company Mitsuoyo- have invested in and near Tamil Nadu.

Apart from industrial investments, Yuzaki said his team will meet officials at Anna University to have student exchange programmes between the two regions.

Hiroshima Prefecture and Tamil Nadu government Monday signed a MoU to explore investment opportunities.

“The MoU is basically to increase people to people networking. We will organise various exchange of business delegations,” Yuzaki said.

According to Fujii, between 2000-2009 Japanese companies have invested around $5.3 billion in Tamil Nadu.

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