Special Purpose Vehicle formed for Tiruchi Trade Centre

A week after registration of Special Purpose Vehicle, Tiruchi Trade Centre Private Limited (TTCPL), under the auspices of Tiruchi District Tiny and Small Scale Industries’ Association (TIDITSSIA), promoters held their first meeting recently to discuss the way forward.

Construction activities for the first phase was deliberated upon at the meeting chaired by former TIDITSSIA president N. Kanagasabapathy on Tuesday.

The government sanctioned ₹5 crore during 2016-17 as 50% grant for the facility to be set up at Panchapur and the amount is with Small Industries Development Corporation.

The trade centre will foster business opportunities for industry clusters in the entire central region to showcase their products. Besides projecting the strength of fabrication industry in the region and its state of readiness to derive utility of the defence corridor project, efforts will be made to ensure a strong presence of the textile sector in Karur, the readymade garment sector at Puthanatham, marine sector in Nagapattinam and other products the central districts are known for, S. Gopalakrishnan, TIDITSSIA president, said.

The total investment for the project was initially estimated at ₹11 crore including land and building cost. Factoring in the cost escalation, the facility has been planned to be created in phases.

“We have taken on board Confederation of Indian Industry, BHEL Small Industries Association, and Chamber of Commerce. “We expect to make gradual progress. If the plan works out well, a 25,000 sq ft. building will be in place in a year’s time,” Mr. Gopalakrishnan said.

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Printable version | Jul 5, 2020 7:32:07 AM | https://www.thehindu.com/news/cities/Tiruchirapalli/special-purpose-vehicle-formed-for-tiruchi-trade-centre/article30932359.ece

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