Tamil Nadu Industrial Development Corporation Ltd., hereinafter referred to as TIDCO, was registered under the Companies Act, 1956, as a public limited company with the Registrar of Companies, Tamil Nadu on 21st day of May 1965. The entire equity shares issued by TIDCO is continuously held by the Government of Tamil Nadu from the date of inception and hence TIDCO is continuing to be a wholly owned Government of Tamil Nadu Enterprise. TIDCO was established with the following main objectives.
- To plan, formulate and execute Projects for setting up of industries or developing lines of production.
- To promote, establish, execute, manage and administer industries, projects or enterprises for manufacture and production of plant, machinery, tools, implements, materials, chemicals substances, goods or things of any description which in the opinion of the Company are likely to promote or advance the industrial development of the State of Tamil Nadu.
- To promote and operate schemes for industrial development of the State of Tamil Nadu and for that purpose to prepare and cause to be prepared feasibility reports, detailed Project reports market studies, blue prints, statistics and other relevant information.
- To engage in the processing and manufacture of metals, metallic products, chemicals, cement, Sugar, yarn, plants, machinery or any other commercial or industrial products articles and commodities and consumer articles, products & commodities.
TIDCO is promoting large and medium scale industries in Joint Venture in partnership with private sector companies and individual entrepreneurs either in Joint Sector or in Associate Sector and TIDCO's participation in the equity capital of Joint and Associate Sector companies will be restricted to 26% and 2 to 11% respectively. TIDCO also provides escort services where the promoters don't want TIDCO's equity participation and as a token of TIDCO's participation, TIDCO invests upto 1% of the equity if it is necessary. Many reputed industrial houses of the country, such as, Tata, Birla, MAC Group, JK Group, LMW, Sakthi Group, Nagarjuna Group, IL&FS and Mahindra Group have set up joint venture units in association with TIDCO in the State of Tamil Nadu in various fields like Iron & Steel, Fertilizers, Chemicals, Watches etc.
As on 31-3-2008, the total paid-up capital of TIDCO is Rs. 72.03 Crores and TIDCO's investment in about 87 companies including 27 companies already disinvested is Rs. 362 Crores. TIDCO was able to generate total investment to the extent of about Rs. 21,000 Crores in these 87 companies set up across the Tamil Nadu with its investment of Rs. 362 Crores through public and private participation.
Some of the important companies promoted through private and public sector participation since 1965 being the year of formation of TIDCO are as follows:
||Name of the Company
||Private Promoter Group
||Titan Industries Ltd
||Tanfac Industries Ltd
||Tamil Nadu Iron Ore Mining Corporation Ltd
||TIDEL Park Ltd
||Hyundai (Main Contractors) Financial Institutions & Banks
||Mahindra World City Developers Ltd
||Southern Petrochemical Industries Corpn.Ltd (SPIC)
||Tamil Nadu Petroproducts Ltd (TPL) and Tuticorin Alkali Chemicals Ltd (TAC)
||SKM Egg Products Export (India) Ltd
||Automotive Coaches & Components Ltd
||Tamil Nadu Road Development Company Ltd (TNRDC) and IT Expressway Limited, a subsidiary of TNRDC.
Click Here to View More Details
In the four decades of its existence, TIDCO has emerged as a dependable partner and an excellent facilitator to potential investors and entrepreneurs in private sector.