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Business EconomyPosted at: Dec 28 2016 11:11PM


Centre sanctions Rs 200.00 Cr for Tirupur Dyeing Industry

New Delhi, Dec 28 (UNI) The Government has sanctioned Rs 200.00 crores to the Tirupur Dyeing industry which was on the verge of closure .
The industry was passing through severe financial crisis on account of their huge investments in the first ever Zero Liquid Discharge (ZLD) projects.
The Ministry of Finance has sanctioned Rs 200.00 crores to Tamil Nadu for the 18 CETPs as an interest free loan to be converted into grant based on the performance of the CETPs.
The move will help ailing CETPs and 450 dyeing units to recover from the financial crisis and help them to complete the project to achieve 100% capacity utilisation.
More than 450 dyeing units in Tirupur Dyeing Industry had collectively set up 18 ZLD enabled Common Effluent plants (CETPs) with a total cost of Rs 1013.00 crore.
The project has become a global standard and appreciated by the environmentalist and processing industry world over. However, being the first project of its kind the project had several technical challenges and cost overrun which put them into financial crisis due to outstanding Bank loans and incomplete projects.
Tirupur is a hub of the textile processing and knitting industry providing employment to over 5 lakh persons and contributes 22% of the total garment export of the country. Closure of processing industry could have hit the entire garmenting sector in the region.
UNI NAZ ADG 2310
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Tags: #Centre sanctions Rs 200.00 Cr for Tirupur Dyeing Industry
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