Government sanctions Rs 200 crore for Tirupur dyeing industry
Posted on:31 Dec 2016 09:28:05
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31 December 2016 Current Affairs: The government has sanctioned Rs 200 crore to Tirupur dyeing industry which was on the verge of closure due to severe financial crisis.
The industry was facing problems on account of their huge investments in the first ever Zero Liquid Discharge (ZLD) projects in the country .
The government has taken cognizance of this problem of the dyeing industry in Tirupur and on recommendation of the Ministry of Textiles, Finance Ministry has sanctioned Rs 200 crore to Tamil Nadu for the 18 CETPs (Common Effluent Treatment Plants) 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 per cent capacity utilization .
More than 450 dyeing units in Tirupur had collectively set up 18 ZLD enabled CETPs with a total cost of Rs 1,013 crore.
However, being the first project of its kind it 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 per cent of the total garment export of the country.
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