The other three high technology weaving parks, being promoted by PDEXCIL at Palladom, Erode and Andipatti, also may go for common branding. When operational these four parks may have combined exports of fabrics worth over Rs 2500 crore.
Sale of application forms for the Cauvery Hi-Tech Weaving Park was formally launched by Mr M S Mathivanan, chairman of the managing committee of the park and also chairman of the Confederation of Indian Weaving Industry, at Komarapalayam on November 7. He said the park would be operational by December 2004.
Already about 100 investors have evinced interest in setting up projects in the park. Cauvery Hi-Tech Weaving Park is the second among the four parks being initiated by PDEXCIL. The managing committee of the third park, `Erode Hi-Tech Weaving Park', is also identifying the land and gearing up to take in applications.
The Palladom park will concentrate mainly on grey fabric. Mr Mathivanan said, Cauvery Hi-Tech will make besides grey fabric yarn-dyed fabrics which do not require further processing. New systems with colour changing devices also would be set up there.
An investor in the park is eligible for special funding schemes and subsidies. With the extension of the Technology Upgradation Fund (TUF) scheme to 2007, an investor will get a one-time subsidy of 20 per cent on the value of the plant and machinery or Rs 50 lakh.
Under the group work shed scheme (GWSS), an investor is eligible for subsidy of 25 per cent of the shed construction cost or Rs 80 per sq. ft, whichever is less. The area specified would be between 3600 sq ft and 14,400 sq ft.
The entire infrastructure cost will be borne by the Centre (75 per cent) and the state government (25 per cent) under the Textile Centre Infrastructure Development Scheme (TCIDS). The common facilities include effluent treatment plants, underground drainage and water tank, roads, walls, quality testing labs, exhibition and conference halls, training centres, marketing assistance by organising buyer seller meets.