Chennai, Feb 16 (IANS): A heavy engineering components manufacturing hub, polymer park and a national investment manufacturing zone will be set up in Tiruvallur district near here, Tamil Nadu Finance Minister O. Panneerselvam said on Tuesday.

Sanction had been accorded to set up the heavy engineering components manufacturing hub in Ponneri taluk at a cost of Rs.700 crore and a polymer industries park at Voyalur also in Ponneri taluk at a cost of Rs.264 crore, the minister said while presenting the budget estimates for 2016-17. 

"The strenuous efforts made by this government have borne fruit in the form of an in-principle approval to establish a National Investment and Manufacturing Zone (NIMZ) in Ramanathapuram district, in addition to the Ponneri Industrial Node as part of the Chennai-Bengaluru Industrial Corridor," Panneerselvam said.

He also said Rs.13,819.03 crore has been provided to the power sector, including Rs.7,370.33 crore for tariff subsidy, Rs.2,000 crore as share capital assistance to the state power utility and Rs.1,483 crore as loan support.

The minister said the state government had commenced work on 1x660 megawatt Ennore Expansion Power Project, 2x660 MW Ennore Special Economic Zone Power Project and 1x800 MW NCTPS Stage-III Power Project.

Panneerselvam said action has been initiated to establish new projects such as 2x800 MW Uppur Thermal Power Project and 5x800 MW Kadaladi Thermal Power Project in Ramanathapuram district, 2x660 MW Udangudi Thermal Power Project in Tuticorin district, 1x660 MW Ennore Replacement Thermal Power Project, 4x125 MW Kundah Pumped Storage Hydro Power Project and 4x500 MW Sillahalla Hydroelectric Project.

For the metro rail project here, Rs.1,032.55 crore has been provided in the interim budget.