Chennai, March 7 (SocialNews.XYZ) Tamil Nadu Chief Minister M.K. Stalin said on Monday that the State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) will set up a mega textile park in Virudhunagar district.
Laying the foundation stone for the International Furniture Park in Thoothukudi, Stalin said the 1,000 acre textile park will be under the Central government's Mega Investment Textiles Parks (MITRA) scheme and a detailed project report will be prepared soon.
Stalin also said that SIPCOT is planning to set up food parks in Theni and Thoothukudi districts.
He said the state government had announced that an international furniture park that would attract an investment of Rs 4,500 crore would be set up soon.
According to experts, the global furniture market is expected to touch $750-800 billion by 2025, and while the contribution of China and Vietnam is high, India's share is very small, Stalin said.
He said the furniture park is being set up on 1,156 acre land in Thoothukudi in which a Belgium company, a global leader in making doors and windows, will set up its unit at an investment of Rs 430 crore.
Stalin said land has been allotted to Hettich India Pvt Ltd and Deceuninck Profiles in the furniture park.
The state government on Monday signed a Memorandum of Understanding (MoU) with eight companies that have agreed to set up their units in the furniture park with an investment of Rs 2,845 crore.
The Tamil Nadu government also signed an MoU with 25 companies, including micro, small and medium enterprises (MSMEs), involving a potential investment of Rs 1,910 crore.
Stalin also launched the portal www.tnlip.com wherein owners of large tracts of land can list their properties for sale for industrial projects.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz