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Palladam park to furnish woven fabrics to home textiles

18
Apr '08

The Palladam Hi-Tech Weaving Park (PHWP) designed to produce woven fabrics for the home textiles market, especially for use in the healthcare and hospitality sectors, will be formally given an approval on April 19 by Union Finance Minister, Mr P Chidambaram.

This project is the first of the powerloom-based weaving clusters established under the scheme of integrated textile parks (SITP) sponsored by the Central Government.

Involving an investment of Rs250 crore, this project will sprawl on an area of 65 acre on the outskirts of Palladam on the Coimbatore-Tiruchi sector of the National Highway.

Production facility inside the park will encompass 92 weaving sheds for housing some 700 weaving machines.

Common facilities at the park will include roads, water, waste water treatment, electricity and supply of compressed air.

The project has been promoted on a public-private partnership program in which small scale power loom weavers have pooled in their investments for setting up their individual units.

Financial support for the project has been lent by SIDBI, Infrastructure Leasing and Financial Services (ILFS) and an association of bankers.

ILFS has also acted as the project management consultant. Central and State Governments on their part have contributed their share of capital in terms of subsidies to raise common infrastructure.

While the Union Ministry of Textile offered 40 percent of Rs44 crore spent on infrastructure as subsidy, the Tamil Nadu Government catered about Rs5 crore.

Mr Senthil Kumar, Chairman and Managing Director of the special purpose company PHWP, told the media that once into operation, the weaving park will provide an access to the latest technologies in the sphere of weaving.

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