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TN govt invests Rs 4,445 cr to set up mega textile park in Virudhunagar

Updated: Apr 30, 2022 07:26:57am
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TN govt invests Rs 4,445 cr to set up mega textile park in Virudhunagar

Chennai, April 30 (KNN) The Tamil Nadu government has earmarked Rs  4,445 crore to establish mega textile park in Virudhunagar, said R Gandhi, Minister for Handlooms and Textiles in the state assembly. 

It will be set up under the central government’s scheme of PM Mega Integrated Textile Regions and Apparel Parks (MITRA) aimed to strengthen Indian textile industry. 

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To avail the scheme, a proposal has been sent by the state government to the union government, informed the minister. 

Explaining the policy note the minister said a special purpose vehicle would be set up with 51 per cent equity shareholding of the state government and 49 per cent of the Union government.

Over seven years till 2027-2028, administrative expenses of Rs 30 crore bas been set aside by the state government. (KNN Bureau)

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