Home / Knowledge / News / Textiles / Karur Textile Park set to begin operations in six months
Karur Textile Park set to begin operations in six months
14
Feb '09
The Karur Textile Park, which was approved under the integrated textile park scheme of the Union Government, is all set to begin operations, within a period of six months. The government has approved 40 parks under the scheme.

The scheme was under a cloud recently, when the government decided to review the progress of each of the parks and cancel allotments to those who had not met the terms and conditions in progress of construction activities.

Under the scheme, the government provides a grant of up to 40 percent of the cost of setting up a textile park, with a ceiling of Rs 400 million, hence the reason for the concerns raised by the government which has invested huge amounts of money as part of its equity.

Fibre2fashion spoke to Mr M. Nachimuthu, Chairman of the Karur Textile Park, to tell us more about the preparedness of the park to start operations within six months. Mr Nachimuthu said, “50 percent of work of Textile Park is already over and hope to complete the project in period of another 6 months”.

Divulging details of the park he said, “The project covers an area of around 110 acres, with the total cost estimated at Rs 1,200 million. We have received a grant of Rs 362.7 million from the government, Rs 650 million has been availed as loans from financial institutions and shareholder contribution accounts for Rs150 million”.

He further added by saying that, “There are 60 members in the association and the park is located approximately 10 km from Karur town on National Highway No-7. On completion, the park is expected to provide employment to over 30,000 people and will also house 350 looms”.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search