TIDCO, the premier industrial promotional arm of Government of Tamilnadu, promotes medium and large scale industries involving investments exceeding Rs.50 million in the State through partnership with private enterprise. Set up in 1965, TIDCO identifies suitable projects and promotes them in association with private promoters. TIDCO participates in the equity of these projects.

a) JOINT SECTOR

TIDCO provides 26% of the equity share capital with the private promoter contributing 25%. Equal participation by TIDCO and private promoter on the Board of Directors is ensured. The Chairman of the Board is a nominee of TIDCO while the Managing Director is nominated by the private promoter.

b) ASSOCIATE SECTOR

TIDCO's equity participation is in the range of 2% to 11% with the private promoter's equity which will be not less than 40%. TIDCO has one nominee on the Board.

c) ESCORT SECTOR

TIDCO contributes 1% of the equity. TIDCO acts as a facilitator and does not have representation on the Board.

In Joint Venture Companies other equity subscribers are Financial Institutions/public/others on private placement basis.

Total capital outlay of over 100 TIDCO projects in production/under implementation in various sectors is about Rs.200 billions.

TIDCO has established projects of various sizes in association with large industrial houses of the country notably Tatas, Birlas, JK Group, LMW etc., as well as first generation entrepreneurs. It covers a wide spectrum of industries which includes iron and steel, Pharmaceuticals, chemicals, petrochemicals, petroleum refining, food-processing, leather, watches, textiles, etc. Besides infrastructure projects like Software park, Hi-tech park, Petrochem Park, sea/air port development etc., is being taken up. TIDCO provided Escort Service to projects like Thapar Dupont, Mahindra Ford Car and Hyundai Motor Company without equity participation.

As on 31-3-1998 the total paid up share capital of TIDCO is about Rs.1000 million. TIDCO has invested about Rs.2000 million in various projects sponsored by it. TIDCO consistently declares dividend since 1990. For the year ended 31-3-1997, TIDCO has earned a net profit of Rs.23.47 million and declared a dividend of Rs.10 million to the Government of Tamilnadu.

For further details, contact:

Tamilnadu Industrial Development
Corporation Ltd.
(A Government of Tamilnadu Enterprise)
19-A, Rukmini Lakshmipathy Road
Egmore
Chennai - 600008
India
Tel: 91-44-8554857
Fax: 91-44-8553729
E-mail: edtidco@giasmd01.vsnl.net.in
Internet - http://www.tidco.com/

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