Tamil Nadu subsidy to set up mini textile parks in Salem

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Tamil Nadu subsidy to set up mini textile parks in Salem


November 14, 2017



Tamil Nadu will provide a subsidy of Rs 2.5 crore to set up mini textile parks in Salem district, according to district collector Rohini R Bhajibhakare. The state government will offer 50% of the cost to create roads, a sewage treatment plant and a captive power plant and has already initiated discussions with entrepreneurs regarding this. Ten entrepreneurs could form a cluster and set up a mini-textile park on ten acres. The Collector said that the State Government has already initiated discussions with entrepreneurs.The total investment on buildings and machineries should be more than two times the amount spent for creating such facilities. Textile parks will help improve the standards of living of handloom and powerloom weavers in the district.The entrepreneurs should open a bank account in a nationalised bank in the name of the park. The government subsidy will be released in three instalments and the entrepreneurs should produce all necessary documents at the time of release of each instalment.