Tiema News
Tiema News
Tiema News

CAAIIUC

Industrial Infrastructure Upgradation Scheme (IIUS): With a vision towards significantly refining the export prospective of numerous industries and growing the Foreign Direct Investment, the Government of India has presented a pioneering proposal to qualitatively create the infrastructure in all segments of industry by cheering public-private partnerships across the Industrial Infrastructure upgradation Scheme (IIUS). Corresponding to the terms of the IIUS, the GOI will provide a maximum of 75% of the funds required while 15% of the expenditure has to be organized from the shareholders and the balance 10% across allowances from the State Government or the local Municipality, and term loans from financial institutions. In the direction of the State Government, and as per the IIUS terms, an industrial cluster including of three Industrial Estates - Ambattur, Thirumudivakkam and Thirumazhisai - was developed. The Unique Purpose Vehicle called Chennai Auto Ancillary Industrial Infrastructure Upgradation Company (CAAIIUC) had equipped and proposed a detailed project report (DPR) with the proficient assistance of ITCOT and TUV Rheinland (India) Pvt. Ltd., captivating into account the gaps in infrastructure, with a total project expenditure of Rs 51.5 crores. The Government of India, Ministry of Industry & Commerce has agreed sanction to CAAIIUC for a total project expenditure of Rs 47.20 crores vide their letter no. 5/28/4/2004-DBA-1 date 4.08.2004.