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Escalating land prices stall Textile Park project

16
Mar '07
ERODE:
An integrated textile park scheduled to be set up in Erode seems to have run into rough weather due to exorbitant land price.

The park was proposed to be set up on a 42-acre site at an estimate of about Rs168 crore on national highway between Chitode and Vijayamangalam.

Textile Park project had been approved by Union Textile Ministry and provision for subsidies to develop infrastructure like land and building were also promised.

Meanwhile vested interests jacked up land price many folds on coming to know of the project.

Entrepreneurs who were planning to set up units in textile park were forced apply brakes on this project due to escalating land prices.

Around 72 industries were proposed to be set up providing direct or indirect employment to 5,000 people, hi-tech park authorities said.

Textile manufacturers, spinners, garment exporters and the park authorities then met Collector T. Udhaychandran and apprised him of the prevailing situation.

The collector promised them to make available suitable land near Perundurai and Vijayamangalam in second phase of State Industries Promotion Corporation of Tamil Nadu (SIPCOT) Ltd.

Government will acquire 1,500 acres more for SIPCOT and give it on 99-year lease to park authorities, sources said.


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