Land of 500 acres chosen at Koduvai for setting up a cotton industrial estate with Special Economic Zone (SEZ) status, requires Chief Minister's approval, which is expected to be granted on May 2 at the state assembly.
According to State Rural Industries Minister, Pongalur N Palanisamy, Government is planning to build sheds in half of the area and rest may be sold to prospective buyers.
The Minister also added that this would enable local industrialists to invest in the city, which produced a major chunk of cotton, and this in turn may help to stop outflow of cash from Coimbatore.
Export oriented industrialists could utilize this opportunity and start their manufacturing units here. Subsidies like tax holding, free electricity and water would surely help them to develop their units quickly.
With the increase of cash inflow, many job opportunities will be generated for the locals.
marketing@alchempro.com
