TN Forms New PSU for Large Construction Projects
The Tamil Nadu government has set up the Tamil Nadu Infrastructure and Construction Corporation (TNICC), a wholly state-owned PSU with an initial corpus of Rs 1 crore. It will execute government construction projects costing over Rs 200 crore, develop townships, industrial hubs, technology parks and business parks, and build on unused government land for revenue. Actual construction will go to contractors chosen through open e-tendering.