CHENNAI: Work on the country’s first PM-MITRA Textile Park (Pradhan Mantri Mega Integrated Textile Region and Apparel Park) in Virudhunagar district will commence in the financial year 2024-25 with an outlay of Rs 1,683 crore, said Minister for Finance Thangam Thennarasu on Monday. This is expected to generate two lakh jobs. The project was launched last year.
Similarly, an integrated textile park spread over 111 acres will be developed by Sipcot in Salem district with an outlay of Rs 800 crore. This is expected to create 8,000 employment opportunities.
Sipcot will also establish an industrial park, spanning 300 acres, near Sengipatti in Thanjavur district with an outlay of Rs 120 crore. Efforts will be made to set up “non-polluting” industries such as those into food processing and non-leather footwear production in the park, the budget stated.
The finance minister also announced that Sipcot will implement a policy to promote ‘plug and play’ facilities from the coming year. This would fulfil the requirement of foreign investors who wish to commence business operations immediately, he said.