Chennai, Mar 23 (KNN) The union government on Wednesday inked an MoU with the Tamil Nadu government to set up India’s first PM MITRA Park for textile in Virudhunagar district.

As per reports, eleven firms also signed MoUs to establish their units with a total investment of Rs 1,231 crore in the park generating around 6,315 jobs. 

Addressing the occasion, chief minister M K Stalin said that Tamil Nadu accounts for one-third of the country’s handloom production.

“The infrastructure would be developed at a cost of Rs 2,000 crore, which includes Rs 500 crore subsidy provided by the Union government. It will generate employment opportunities for two lakh youngsters when the park is fully operational,” he said.

The Tamil Nadu chief minister appealed to the government to help the state in setting up new textile park at Salem through Scheme for Integrated Textile Parks (SITP) and integrated processing development scheme (IPDS).

Earlier, Prime Minister Narendra Modi had announced the states finalised for setting up 7 PM MITRA Parks in the country.

These parks are expected to attract Rs 70,000 crore investments and provide jobs for over20 lakh people.  (KNN Bureau)