Home / Knowledge / News / Textiles / Union govt sanctions Rs 200cr for Tiruppur dyeing industry
Union govt sanctions Rs 200cr for Tiruppur dyeing industry
29
Dec '16
The Indian government has sanctioned Rs 200 crore to the Tiruppur dyeing industry, which is on the verge of closure due to severe financial crisis on account of huge investments in the first ever Zero Liquid Discharge (ZLD) projects in the country. This will help ailing Common Effluent plants (CETPs) and 450 dyeing units to recover from the financial crisis.

“The Government of India has taken cognizance of this problem of the dyeing industry in Tiruppur and on recommendation of the ministry of textiles, the ministry of finance has sanctioned Rs 200 crore to the state government of Tamil Nadu for the 18 CETPs as an interest free loan to be converted into grant based on the performance of the CETPs,” an official statement said.

The move will help ailing CETPs and 450 dyeing units to achieve 100 per cent capacity utilisation.

More than 450 dyeing units in Tiruppur had collectively set up 18 ZLD enabled CETPs with a total cost of Rs 1,013 crore. The project has become a global standard and appreciated by environmentalists and processing industry world over. However, being the first project of its kind the project had several technical challenges and cost overrun which put them into financial crisis due to outstanding bank loans and incomplete projects.

Welcoming the decision, Dyers Association of Tirupur president S Nagarajan said that the amount will help in mitigating the stressed assets and also in enhancing the capacities at the 18 CETPS in Tiruppur knitwear cluster.

Tiruppur is a hub of the textile processing and knitting industry providing employment to over 5 lakh persons and contributes 22 per cent of the total garment export of the country. Closure of processing industry could have hit the entire garmenting sector in the region. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Top executives
Textile industry, India

The event should be organised every year

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search