TN to set up new textile park & allocate Rs 100 cr to fund MSMEs

Tamil Nadu Chief Minister J Jayalalithaa today announced new textile park and financial support for first generation entrepreneurs and MSME.

In a statement under Rule 110 of the State Assembly, she said an integrated textile processing park will be set up in a 224 acre land at Thiruvadanai, Ramanathapuram district, at a cost of Rs 150 crore.

The park will have a water desalination plant of one crore litre capacity and 30 textile companies will be set up here at a budget of Rs 450 crore and will create direct employment to 6,000.

Jayalaltihaa said Tamilnadu Industrial Investment Corporation (TIIC) has been financially supporting first generation entrepreneurs and MSMEs to five further boost the state government would give Rs 100 crore as one-time capital for TIIC.

A Rs 200 crore worth caustic soda factory will be started by Tamilnadu Salt Corporation in association with a private company at Vedaranyam. A development centre will be created in Coimbatore at a cost of Rs 32.61 crore by Tidel Park, to enable IT companies to start business in a hassle-free manner.

In a bid to pave way for the growth of aerospace companies in the State, a computer and design centre will be set up in Sriperumbudur taluk by Chennai Aerospace Park Limited, a special purpose vehicle created by TIDCO, at a cost of Rs 350 crore.

She also announced a Chenai-Bengaluru Industrial Corridor scheme and Ponneri Industrial Node, which is to be set up in three phases at an estimate of Rs 13,314 crore.

Chief Minister also announced Chennai Trade Centre will be expanded at a cost of Rs 298 crore.