- Tamil Nadu Industrial Corporation (TIDCO) said that government has allotted land for 12 companies at the proposed Aerospace Park to come up in nearby Sriperumbudur.
- It said that out of the proposed 30 companies in the first phase, for 12 companies land was allocated, 3 companies submitted their application seeking allotment of land and remaining 15 companies expressed their interest.
- Expected investment from these 30 aerospace companies will be around ₹ 3,000 crores and the expected employment is around 5,000 persons.
- TIDCO has set a target of 40 companies to set up their units in the park by mid-2016
- As per the government orders, State Industries Promotion Corporation of Tamil Nadu (SIPCOT) has reserved around 258 acres to develop the park