Financial Daily from THE HINDU group of publications
Friday, Sep 24, 2004
Financial Daily from THE HINDU group of publications Friday, Sep 24, 2004 |
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Industry & Economy
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Textiles Europe looms for new parks likely in TN Our Bureau
Chennai , Sept. 23 THE Tamil Nadu Government plans to set up four high-tech parks for shuttleless looms in powerloom clusters such as Palladam, Komarapalayam, Andipatti and Erode. These parks would get assistance from the Centre and the State Government. The Palladam project is estimated to cost Rs 25.86 crore, with the Centre contributing Rs 20 crore and the State Government the balance. The State Government would make concessions in stamp duty while acquiring land, sources said. The park at Komarapalayam is estimated to cost Rs 19.77 crore with the Centre's share being Rs 15.15 crore. Sources said that the looms will be imported from Europe and each park will have about 1,000 looms. With Tamil Nadu being a major player in the manufacture of garments, the Government has decided to set up three apparel parks. The first one is in Tirupur, which is nearing completion. The second one in Irugatakkottai near here is being set up with an investment of Rs 17 crore. About 40 people have purchased land there, sources said. The third one is in Madurai for which the land has been identified. The Government will provide infrastructure such as road, transport and power for these apparel parks. The Government also plans to set up processing units for the textile industry at Cuddalore. It has roped in the National Institute of Design, Ahmedabad, to come out with new designs. Sources said that the weaver societies have come out with saris and fabrics which were lighter, less expensive and more suitable for the office wear. In Kancheepuram, the Government has set up the Textile Infrastructure Development Centre with an investment of Rs 19.5 crore to provide infrastructure facilities such as road, water, power and training centres. These centres would be set in up other textile towns in the State also, sources said.
More Stories on : Textiles | Tamil Nadu
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