TUF may be extended

Coimbatore: The Union Minister for Finance, Mr P. Chidambaram, hinted about a possible extension of the Technology Upgradation Fund Scheme (TUF).

The Minister, who was in the city to lay the foundation stone for G. Varadaj Convention Centre, which is expected to come up in the Codissia Trade Fair Complex, said the proposal was before the Ministry but did not elaborate further.

He urged everyone to bring in more investments and create wealth, both material and human. 'There is no dearth of entrepreneurial talent here,' he said, recalling the growth of Coimbatore and the industrialists who had strived to make it possible.

The Union Minister for Communication and Information Technology, Mr Dayanidhi Maran, said the foundation stone for the TIDEL Park (proposed in the city) would be laid soon, but declined to announce the date.

He expressed concern over the sky-rocketing rates of the real estate in the city. 'The TIDEL Park is yet to come, but the announcement about such a project has triggered the land rates to unreasonable levels. It is much higher than the prevailing rates in Chennai. At this rate, investors would start looking at other possible tier II locations,' he said. The Government, he assured, would extend all possible support to strengthen its infrastructure.