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Tirupur dyeing units to get first installment of loans
Feb '12
Dyeing units in Tirupur cluster of south Indian state of Tamil Nadu are likely to receive the first installment of the interest-free loan package for upgradation of the Common Effluent Treatment Plants (CETPs), by the end of this month.

The initial disbursal would be 10 percent of the total amount of Rs. 1.79 billion, and it would be distributed to the individual stakeholders.

As per the terms of loan package, the first 10 percent of the loan amount is meant for undertaking construction and civil engineering activities at the CETP sites.

The second installment of 20 percent would be for procuring equipment to upgrade and increase the efficiency of the plant. Once the equipment is procured, another 40 percent of the loan amount will be released.

A 20 percent of the sum will be disbursed after the installation of new equipment is completed at the respective plants. The final installment of 10 percent would be given only after the CETPs are visited, evaluated and certified by officials from the Pollution Control Board.

Fibre2fashion News Desk - India

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