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| New textile park to entail Rs 500 cr investment |
| BS Reporter / Chennai Oct 13, 2009, 00:53 IST |
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A new state-of-the-art textile park is likely to come up in Cuddalore in Tamil Nadu with an investment of Rs 500 crore. The new park is likely to generate employment opportunities for 5,000 people and this would be the first park of the total 40 parks which the Textile Ministry is planning across the country.
Speaking to reporters after meeting the Union textiles minister Dayanidhi Maran at his residence in Chennai Thulasitharan, president South India Mills Association (SIMA), who led a delegation to meet the minister, said that the new park would create employment for 20,000 people indirectly. The new park will up in 250 acre of land.
Dayanidhi Maran added, owing to then economic situation and because of the clearance of the Union environment and forest ministry would consume time, the project was given up, he said.
The textile park will also have a 15 mega watt power plant, he added.
The move to set up a new textile park comes at a time when the Indian textile market is facing severe pressure as global retailers slash their sourcing to overcome the ongoing worldwide economic crisis.
The announcement of a textile park in Tamil Nadu has caught industry players by surprise as an apparel park at Doddaballapur near Bangalore is yet to take off completely.
Karnataka is a major apparel – sourcing destination for the global market ranking as the second largest garments exporter in the country. Bangalore is the main hub of activity in garment manufacturing and exports and not many players are eager to set up their units at this apparel park.
Given Karnataka’s competitive advantages, the state government is pushing to give a further impetus to the sector in order to maintain and enhance its competitiveness and dominant position in garment exports.
Karnataka State Powerloom Development Corporation Ltd and Karnataka Industrial Areas Development Board are the nodal agencies for implementation of the project.
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