Chennai Msmes Suffer Heavy Losses Due To Cyclone Michaung

(MENAFN- KNN India) Chennai, Dec 5 (KNN)
Cyclone Michaung's relentless rains have inundated Chennai and its surrounding districts, dealing a severe blow to MSME units in the region amid the storm and floods,
reported Business Standard.

Micro, Small and Medium Enterprise (MSME) units, especially in Ambattur, Tiruvallur and Kanchipuram, have suffered huge losses, as per industry sources.

Suresh Krishnamurthy, President of Hindustan Chamber of Commerce (HCC) and CEO of India Cements Capital Ltd. (ICCL), said,“MSME units have been badly affected.
We estimate that the industry will suffer a loss of around Rs 7,000 crore.
The industrial areas of MSME units are badly waterlogged.”

Ambattur, South Asia's largest small-scale industrial belt, has been badly hit by the rains with more than 1,750 companies affected, reported Business Standard.

G Aravind, President of Ambattur Industrial Estate Manufacturers Association (AIEMA), said,“It is too early to say the extent of the loss.
This includes many expensive machines.”

“The northern part of Ambattur industrial area has been flooded with 3 to 4 feet high water and many areas in the southern part are also affected.
Overall, the entire business has collapsed.
All the officials are helping us to deal with this crisis,” he said.

Not only has normal life been affected due to floods, rail and aviation services have also been affected due to cancellation of trains and flights.

(KNN Bureau)


KNN India

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.