• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

L.N. Revathy

Coimbatore, Oct. 7 The Industrial Cooperative Tea Factories (Indco) has submitted a proposal to the Government for its revival both on the farm front and in manufacturing.

The Rs 137-crore proposal includes beneficiary contribution as well, industry sources told Business Line.

A major chunk of this outlay may be utilised for replanting and rejuvenation of tea bushes in an estimated 10,000 acres. The Special Officer and Managing Director of Indcoserve, Dr D. Karthikeyan, expects the Rs 10.5-crore machinery replacement proposal to be cleared soon. “The subsidy component alone is 75 per cent, with 50 per cent from the Government of India and 25 per cent from the State. It is expected to be cleared before the end of the current year,” he said.

Of the 15 Indco factories in the Nilgiris belt, one is set for lay-off. “At Evbanad, the arrival of the green leaf is not sufficient for processing. The daily green-leaf requirement is 10,000 kg, but the supply is less than 2,500 kg. We are trying to revive it,” Dr Karthikeyan said.

The average annual processing capacity of these factories is 14 million kg (of made tea). On the price for the green leaf, he said, “We pay Rs 6, but there is scope for improvement if the age-old bushes are replanted. This rejuvenation would improve the quality of the green leaf.”

To a query about TeaServe, the e-auction platform mooted by the State Government, he said, “We are trying to enhance the scope of this auction platform, facilitate anywhere trade.”

The settlement period at TeaServe has been enhanced from nine to 12 days at the request of the buyer, protection guarantee assured, and pack size reduced from 40 kg to 20-25 kg. “The trade has sought the packing in laminated bags. We are working on this.”

More Stories on : Tea | Sick Units | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Fresh ‘low’ kills incumbent, to soak east

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line