Chennai, Nov 9 (PTI) The Tamil Nadu government has established TNICC, as a wholly-owned state PSU to give a significant push to rapid urbanisation and large-scale public development. The newly formed corporate body aims to execute major state government infrastructure projects valued above Rs 200 crore while driving revenue generation through unused government lands and competitive private-sector tenders, according to a GO issued on Monday. The initiative stems from a recent announcement made on the floor of the Assembly by the Minister for Public Works and Sports Development. Driven by the state’s expanding infrastructure demands, the Tamil Nadu Infrastructure and Construction Corporation (TNICC) is designed as an agile, self-sustaining institutional mechanism equipped with professional expertise and operational flexibility. Operating as a Project Management Consultant (PMC), the corporation will centralise project management, implement modern technologies, and provide high-quality architectural designs and quality control services. Its operational scope encompasses developing modern townships, industrial hubs, technology parks, IT cities, and business parks, alongside optimising underutilised government land parcels to create sustainable state revenue. Furthermore, the corporation is authorised to participate in competitive tenders floated by national and international private entities. The government order added that the corporation starts with an authorised share capital of Rs 15 lakh and an initial paid-up capital of Rs 10 lakh. Stringent governance guidelines have been mandated that all major works will be assigned through open competitive bidding on the e-procurement portal in strict compliance with the Tamil Nadu Transparency in Tenders Act, 1998. Each assigned project will carry independent funding and a designated agency fee from user departments. By bridging the gap between public infrastructure delivery and commercial competitiveness, the TNICC is poised to redefine the state’s urban landscape, accelerating decision-making processes to meet long-term economic and infrastructural goals. PTI SNR SNR KH The Tamil Nadu Infrastructure and Construction Corporation (TNICC) is established as a wholly-owned state PSU to drive rapid urbanisation, execute major state infrastructure projects valued above Rs 200 crore, and generate revenue through unused government lands and private-sector tenders. The corporation starts with an authorised share capital of Rs 15 lakh and an initial paid-up capital of Rs 10 lakh. All major works will be assigned through open competitive bidding on the e-procurement portal in strict compliance with the Tamil Nadu Transparency in Tenders Act, 1998, with each project carrying independent funding and a designated agency fee.
También lo cubren: Hindustan Times, news18.com - Text News in news18.com, Text Latest News, Text News, thehindubusinessline.com - Business News Today: Latest Business News,.
🔗 Leer la noticia completa en news18.com - Latest News in news18.com, Latest Latest News, Latest New
Ver más en News Today