TAMIL NADU

SIDCO cancels plot allotment

Women entrepreneurs fail to pay initial sum

Staff Reporter

SALEM: Small Industries Development Corporation (SIDCO) Limited, Tamil Nadu, has cancelled the allotment of 56 developed sites in the Women Industrial Park in Karuppur near here as the selected entrepreneurs failed to pay the initial sum.

To encourage women entrepreneurs to establish industries, SIDCO had developed 51.24 acres near the Salem Government Engineering College. It had created 156 plots on 35.16 acres for establishing tiny and small enterprises with each plot ranging from 10 cents to 77 cents. It had spent Rs. 1.5 crores to create basic infrastructure such as roads, water, provision for power supply, drainage and streetlights. Then, after a few years of delay, SIDCO conducted a draw of lots in March this year and allotted 129 developed plots to the women entrepreneurs.

"Only 73 persons paid the initial cost of the plot, i.e., 15 per cent of the plot's total cost. Hence, we have decided to go in for a fresh allotment to sell the remaining 83 plots," Branch Manager of SIDCO, Salem, V.P. Varadharajalu told The Hindu here.

A few entrepreneurs among the 73 had paid the total cost of the plot. "It will take some time for them to start construction work at the park. They have to start production 24 months after purchasing the plot," he said.

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