The Hindu Business Line : Erode weaving park work may begin soon

Coimbatore, Aug. 7 Promoters of the Erode Hi-tech Weaving Park (EHTWP), the infrastructure company of the powerloom park, have identified a 40-acre land for the project at Thiruvachi Panchayat in Perundurai in Erode district.

The land registration for the proposed park project would be completed within a month and the building work at the project site would begin by next month end, according to Mr Ka Marappan, Managing Director of the EHTWP.

SITP Subsidy

The Union Minister of State for Textiles, Mr E.V.K.S. Elangovan, accompanied by the Tamil Nadu Minister for Handlooms and Textiles, Mr N.K.K.P. Raja; and the Chairman of the Powerloom Development and Export Promotion Council, Mr M.S. Mathivanan, visited the proposed park site recently.

The park is being developed under the Central Government supported scheme of integrated textile parks (SITP). When completed, the project would have 70 textile units, which would account for an annual fabric production of 17 million metre with an export earning value of $30 million. The total investment covering the spinning, weaving, garmenting and knitting facilities to be created inside the park would be about Rs 128 crore.

The park promoters stand to get the SITP subsidy of Rs 18 crore from the Centre.

Park Project

The State Handlooms and Textiles Minister had assured that the State Government would extend 50 per cent concession on the stamp duty payable for the park project.

Mr Mathivanan had sought reduction in power tariff for the powerloom weavers from the Minister, who assured that he would take it up with the State Chief Minister for its implementation. The District Collector Mr Udhayachandran told the promoters that he would convene a bankers meet soon to impress upon them for funding the park project.

The EHTWP implementation rests with IL&FS, which is the designated project management consultancy under the SITP programme.