Tamil Nadu Chief Minister MK Stalin said on Monday, March 7 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 Union 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 Tamil Nadu 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.
The Chief Minister 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 that land has been allotted to Hettich India Pvt Ltd and Deceuninck Profiles in the furniture park.
The Tamil Nadu government on Monday, March 7, 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.
Chief Minister Stalin also launched the portal www.tnlip.com wherein owners of large tracts of land can list their properties for sale for industrial projects.