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R. Krishnamoorthy

Tiruchi, Dec. 26 Twenty-two machine shop units promoted by the Tiruchi District Tiny and Small Scale Industries’ Association (TIDITSSIA) are to receive Certificates of Vendor Registration from BHEL during this week.

The Executive Director of BHEL Tiruchi Complex, Mr R.N. Misra, will hand over the certificates to the youths in their early thirties who have transformed into entrepreneurs from the level of labourers in the fabrication units in and around Thuvakudi, the president of TIDITSSIA, Mr R. Sridharan, said.

It is for the first time that TIDITSSIA has, under its Science and Technology Entrepreneurship Development (STED) scheme, facilitated bulk registration of machine shop units which are expected to provide employment to 500 people.

The Canara Bank has funded these units to the tune of Rs 1.5 crore without insisting on collateral security. On their part, these entrepreneurs, who were brought under the credit guarantee scheme, had to cough up only 10 per cent of their investment.

The TIDTISSIA has guided these youths into undergoing a major transformation in their lives by providing management input, preparing project reports, fulfilling formalities with Government machinery such as the Tamil Nadu Electricity Board, and securing bank loans.

According to Mr Sridharan, BHEL will begin releasing orders for these units once they receive the certificates of registration.

These units would be able to attain an annual turnover of Rs 25 crore, and based on their success, the TIDITSSIA would take further initiatives for bulk registration of similar units, in accordance with its understanding with BHEL.

Incidentally, the banks are also willing to forward loans for projects made viable through TIDITSSIA intervention. The trend augurs well with BHEL’s expansion mode, said Mr Sridharan.

More Stories on : SSI | Bharat Heavy Electricals Ltd | Tamil Nadu

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