The Hindu Business Line : Rs 417-cr Coir Board credit plan for AP

THE Coir Board has formulated a Rs 417-crore credit plan to be implemented in the next five years for the development of coir industry in Andhra Pradesh.

Of the proposed investment, the promoters' share would be 10 per cent, credit flow 65 per cent, and subsidy, grant and incentives from the Coir Board and the Central and State Governments would be 25 per cent, said the board Chairman, Mr C. Chandran.

Apart from establishing four more rubberised coir units, the action plan proposes setting up of coir pith utilisation, coir composite products and geo-textiles manufacturing units in Andhra Pradesh.

It said that the State Government could as well provide a leadership thrust for the development of coir industry by establishing a State-level Coir Mission.

As per the action plan, a blueprint of which was submitted to the State Government by Mr Chandran, AP has a potential to generate coir products worth Rs 1,600 crore over the next five years.

The existing coir units in the State were utilising only 27 per cent of the nuts produced for generation of fibre and other products. There is a potential to increase the husk utilisation up to 50 per cent of the nuts produced.

According to Mr Chandran, the Common Minimum Programme of the UPA Government seeks modernisation of the coir industry in the country.

Accordingly, the board has evolved the MDMD, covering the blueprint of action plan for a quantum jump in coir sector development.

The board is currently organising meetings in various States to disseminate the salient features of the MDMD.