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The mega integrated textile park Texvalley, being set up here at a cost of Rs 450 crore to cater to the textile merchants in the region, is expected to become operational by June this year.
The project, taken up under the Comprehensive Power Loom Cluster Development Scheme of the central and state textile ministries, was coming up on a 16-acre site at Gangapuram and would have 6,500 stalls, Texvalley Managing Director P Raajashekar said on Wednesday. Already more than 5,000 merchants had booked stalls in the TexValley, promoted under Public-Private-Partnership mode, he said.
The texvalley has been established with the initial contribution of Rs.50 crore by Erode-based Lotus Agency and URC Constructions while the Union Textile Ministry had granted a subsidy of Rs.40 crore.The construction work was nearing completion and the park would be inaugurated by June this year, he said.
Texvalley aims at offering a platform for textile merchants who are presently doing their business in the weekly shandies in three locations in the city.
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