500-acre land identified for SEZ
Coimbatore:A 500-acre land has been identified at Koduvai, between Pongalur and Tirupur, to set up an industrial estate exclusively for cotton-based industries, with Special Economic Zone (SEZ) status.Rural Industries Minister Pongalur N Palanisamy said the project was awaiting Chief Minister’s approval and was expected to be granted on May 2, when the discussion on rural industries would be taken up in the State Assembly.The Government would divide the area and sell it to prospective buyers."We will build sheds in half of the area and in the rest, the buyers can build according to their requirements," the Minister said.He also said that since cotton production was higher than consumption in India, the estate would be used fully for export purposes.Local giants would be able to invest in the city, which produced a major chunk of cotton, instead of going to other states. Major industrialists in Coimbatore made their investments in the Cotton City, Naidupet, as the Andhra Pradesh Government supported their efforts, he said.Taking stock of the situation, the Minister had taken the first step towards the revival of the textile industry in Tamil Nadu."We have identified the land between Pongalur and Tirupur (Koduvai) and are negotiating with the land owners. In case they don’t sell the lands, we will acquire them," he said.The Minister added that the estate was expected to stop the outflow of cash from Coimbatore.
The export-oriented industrialists could utilise the opportunity and start their manufacturing units here.Subsidies like tax holding, free electricity and water would surely help them to develop their units quickly, he said."The cash inflow will increase and it will also generate job opportunities for the local people. Small and medium enterprises can supply locally and get payments immediately," the Minister added.
