Chennai, Aug 31 (IANS): The Tamil Nadu government will simplify the procedures for acquiring land for industrial parks by the State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) to house large industries.

In a policy note for the major industries presented in the state Assembly, Industries Minister Thangam Thennarasu said: "To expedite the procurement of land banks, the procedures under the Tamil Nadu Acquisition of Land for Industrial Purposes Act will be simplified. Alternate modes of acquisition like land pooling and private negotiation will be resorted to."

The SIPCOT has proposed to create a land bank of 45,000 acres in the next five years.

The creation of readily-available industrial lands is imperative to attract new investments and retain the state's competitive edge. The land banks will be created with focus on industrially backward districts.

According to the policy note, Tamil Nadu has an existing land bank of around 40,000 acres across industrial parks in the state and is focused on increasing the land bank further.

The government shall aim to increase this by setting up additional parks, with specific focus on industrially backward districts.

Newer models such as 'plug and play' facilities in SIPCOT parks or joint ventures with private players will also be used.

Further, the government plans to establish country-specific integrated industrial townships to provide an enhanced ecosystem for foreign investors and their employees in the state.

The government is also promoting industrial housing projects in close proximity of industrial parks in order to improve labour participation and productivity.

The SIPCOT is in the process of establishing eight new industrial parks over 5,603 acres of land for which land acquisition is nearing completion.

The organisation has proposed to establish 18 new industrial parks, for which preliminary activities to identify/ cquire land have been commenced.