Finally, the managers have acquired the entire 40 acres required for Erode hi-tech weaving park in Tamil Nadu.
Ka Marappan, Managing Director of the park, informed, "We have just concluded the process of taking possession of the land, something which eluded us for long.''
However, the location of the site is undisclosed, to avoid all the broker negotiations and troubling price hikes and other such dealings that make everything very difficult.
Total investment in the project comes up to Rs140 crore, of which infrastructure will have 40 percent subsidy.
MD revealed that the park will have 600 hi-tech, air jet, rapier and projectile looms along with eight garment manufacturing units, a spinning mill and two sizing units.
Currently, park awaits the approval from Central Government to set up windmills.
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