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The Union Minister of State for Railways, KH Muniyappa, has requested the Tamil Nadu government to sanction 50 percent of the total cost for the proposed Avadi-Guduvancheri rail link soon.

The minister, who arrived at Rajiv Gandhi Memorial here to flag-off the Rajiv Jyothi Sadbahavana Yatra on Tuesday, said, “The railway ministry is keen on this project, as this rail link will propel industrial and economic development.”

A supplementary Memorandum of Understanding (MoU) was signed between Apollo Tyres and the Tamil Nadu government to scale up its investment in a new plant at Oragadam near here from 1,650 crore to 2,100 crore (about $460 million).

Apollo Tyres initially planned to invest 450 crore in the plant. According to the state government, the company revised its investment plans so as to roll out 6,000 radial tyres for trucks and buses and 8,000 radial tyres for cars.

Tata Housing, the real estate developer for all consumer segments, has forayed into the Chennai residential market. It plans to invest nearly Rs. 2,000 crores in current fiscal. It proposes to develop nearly three to four million sq. ft in the few years.

Sundaram Clayton Ltd, part of the TVS Group and holding company of the country’s third largest two-wheeler company, TVS Motor, plans to invest around Rs 100 crore. The investment includes the cost of setting up a greenfield facility at Oragadam, for an outlay of Rs 40 crore.

The facility will manufacture heavy truck parts and other automotive components including pipes, brackets and aluminium die-casting. Company’s chairman Venu Srinivasan said the investment will spread over for the next two years.

Vascon Engineers on Tuesday said that it has signed a pact with Bhalakh Realtors Private to develop a 105-acre township at Oragadam, a rapidly growing suburb located at a distance of about 45 km away from Chennai on Tambaram-Kancheepuram Road.

The company said that it would develop about 10 million sq ft in four phases over a period of 6 years. The total investment in the project is estimated to be approximate Rs.2000 crore.

Arun Excello is coming up an integrated township, named Temple Green, on the 6-lane SH-57 highway connecting Oragadam with NH-4 (Chennai-Bangalore highway). There are many plots promoted by various real estate firms between Sriperumbudr and Oragadam on SH-57 road but this is the first noticeable residential township project here.he developer and promoter of Estancia

Arun Excello Temple Green will offer 1, 2 and 3 BHK apartments in sizes ranging from 575 to 1280 sqft. The rates start at Rs.15 Lakhs (all inclusive), which works out to around Rs.2600/sqft (all inclusive).

Inno, a leading global real estate investment group, today announced the launch of its flagship residential development project Inno GeoCity in Chennai.

Inno Group focuses on canalising European institutional and other investments into prime real estate projects in India. Till date, Inno has funded 6 projects in India with a total GDV (Gross Development Value) of Rs. 2,600 crores involving a total development of over 14 million sq. ft.

Through its flagship project - Inno GeoCity, Inno enters into real estate development in India.

Highlights of Inno GeoCity:

In yet another show of Tamil Nadu’s emergence as a strong manufacturing hub, French engineering group Alstom has chosen to set up a new facility near Chennai at an investment of Rs 200 crore for making rail coaches.

“This will be a significant project and Alstom has decided to put up a rail coach unit in Tamil Nadu. The coaches will be produced for metro rail projects. The new facility will come up on a site in the Oragadam industrial corridor near Chennai,” a top government official on condition of anonymity.

he State Industries Promotion Corporation of Tamil Nadu (SIPCOT) intends to buy 2,500 acres to the north and east of the Oragadam industrial estate, to make enough land available for industries to set up shop there.

Dr M. Govindan, Chairman and Managing Director, SIPCOT, on Saturday said that the corporation would buy 1,800 acres to the north and 700 acres to the east of Oragadam, to augment its land bank.

Tamil Nadu Deputy Chief Minister M K Stalin has urged Nokia-Siemens network to bring in their vendors to reduce the import content in their products.

Inaugurating the new production line of Nokia Siemens at its facility in Oragadam near here, he assured full support and cooperation to Nokia in this endeavour.

He said Nokia-Siemens Networks was one of the largest telecommunications equipment-suppliers in the world.