TIDCO (Tamil Nadu Industrial Development Corporation) is a governmental agency in the state of Tamil Nadu, India. It is responsible for the development of industries in the state by formulating policies that help industry growth, and also by establishing Industrial Estates. It often partners with SIDCO (Small Industries Development Corporation). Among other things, TIDCO has established the Tidel Park in southern Chennai for information technology companies, and Ticel Park in southern Chennai(near to Tidel Park) for Chemical companies.
TIDCO, a Government of Tamil Nadu Enterprise, was incorporated as a Limited Company in the year 1965 ;in order to identify and promote the establishment of large and medium scale industries within the State of Tamil Nadu in association with the private sector. The company’s authorized share capital is Rs.1250 million of which Rs.720 million has been issued and has been entirely subscribed by the Government of Tamil Nadu. The Government of Tamil Nadu has also extended loan assistance aggregating to Rs.1695 million as at March, 31st 2008 to the company. TIDCO is also registered with the Reserve Bank of India as Non-Banking Financial Company and public deposits outstanding as on 31.03.2008 is at Rs.32.35 crores TIDCO has been specified as Public Financial Institution within the meaning of Section 4A of the Companies Act, 1956
Tamil Nadu was one of the first states in the Indian Union to formulate a... Read More