About Economy

  1. In Tuticorin Salt pans in and around the city contribute majorly to the economy of the city. The salt pans produce 1.2 million tons of salt every year, contributing to 90% of the salt produced in the state and 50% needed by the chemical industries of the state.
  2. Here, the other major industries are shipping, fishing; agricultural, power and chemical industries.
  3. Fishing is one of the largest contributors to the domestic economy. Tuticorin Fishing Harbor is one of the ancient and largest in Tamil Nadu.
  4. The Tuticorin Thermal Power Station has five 210 megawatt generators. The first generator was commissioned in July 1979.
  5. Here, the thermal power plants under construction include the coal-based 1000 MW NLC TNEB Power Plant.
  6. In addition to this there are several private power plants are located.
  7. Tuticorin City is the headquarters Tamilnad Mercantile Bank Limited. It is one of the fastest growing banks in India during the period of 2007-2012.Its total business is worth 360 billion. The bank targets a Total Business of 500 Billion INR in 2014-15.
  8. The city also has a research institute set up by Central Marine Fisheries Research Institute and a Spices laboratory set up by Spices Board of India.
  9. Tuticorin also has a State Industries Promotion Corporation of Tamil Nadu Industrial Estate and SIDCO's Industrial Estate which comprises several Small scale and Medium scale Industries.