BUSINESS

Hi-tech weaving park at Palladam

COIMBATORE: The process for setting up a mega ``hi-tech weaving park'' at Palladam near here, the first of its kind in the country in the decentralised weaving sector, has been set in motion, with applications invited from entrepreneurs.

Palladam Hi-tech Weaving Park (PHWP) was expected to come up at a 135-acre plot, housing 150 - 200 units, at a cost of Rs.150 croreS, M Senthil Kumar, chairman, Powerloom Development and Export Promotion Council (PDEXCIL), initiators of the project, told reporters here last night.

The park would facilitate the weaving industry to gear up to face the challenges of trade globalisation by 2004 and also to avail the benefits under various government schemes, he said.

The Central schemes include Group Work-shed scheme for decentralised powerloom weaving industry, Textile Centre Infrastructure Development Scheme and Technology upgradation fund scheme, along with Tamil Nadu government's Financial and Development Assistance, Senthilkumar said.

The park would be ready by September 2004, he added.

PTI

Recommended for you