Tamil Nadu one of India's largest electrical equipment manufacturing companies, has manufacturing plants at Tiruchirapalli and Ranipet. India's leading steel producer, the state-owned Steel Authority of India has a steel plant in Salem. Sterlite Industries has a copper smelter at Tuticorin and an aluminium plant in Mettur. The Chennai Petroleum Corporation is a state-owned oil and gas corporation headquartered in Chennai, and owns refineries at Manali and Panangudi. The state government owns the Tamil Nadu Newsprint and Papers, in Karur. Jointly with the Tata Group, the state owns the world's sixth largest manufacturer of watches, under the brand name of Titan, at
State Industries Promotion Corporation of Tamil Nadu State Industries Promotion Corporation of Tamil Nadu The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) (), Limited is an institution owned by the Government of Tamil Nadu. The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) was formed in the year 1971, to promote industrial growth in the State and to advance term loans to medium and large industries The Functions of State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) are: SIPCOT has established industrial complexes in 16 areas, according to the SIPCOT webpage. These include: A new SIPCOT is going to be established in Dharmapuri,Thiruvannamalai