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G Gurumurthy

Promoted under private-public partnership; IL&FS to be consultants

Coimbatore , July 28

The construction work for the Rs 125-crore Komarapalayam Hi-tech Weaving Park (KHWP) project proposed to be set up in the Namakkal district will be launched on August 20, according to Mr L.A.D. Palanisamy, Chairman of KHWP.

The park has been planned by members of the decentralised powerloom weavers on a 30-acre site at Korapalayur near Komarapalayam and the park project has recently been sanctioned by the Centre under the scheme of integrated textile park (SITP).

Park Project

The weaving park will have 57 units comprising 50 weaving sheds, five warping plants and one unit each for sizing and spinning and it will have 600 weaving machines. The park on completion will account for per day production of 50,000 metres of narrow width fabric for use in apparels and made-ups manufacture.

The project being promoted under the private-public partnership will have a Union Government investment subsidy component of Rs 14 crore eligible under the SITP and the Infrastructure Leasing and Financial Services (IL&FS) will be the project consultants for the KHWP.

Mr Palanisamy told Business Line that the promoters of the project have proposed to start commercial operation before end-March 2007. The Union Minister of State for Textiles, Mr E.V.K.S. Elangovan, is expected to participate in the groundbreaking to be held next month.

The KHWP promoters have planned to call an investors meeting to decide on the choice of weaving machinery to be ordered for the project.

More Stories on : Textiles | Tamil Nadu

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