The Tamil Nadu Small Industries Development Corporation Limited (TANSIDCO), in its capacity as the nodal agency for establishment of Trade Facilitation Centre in Tiruchi, has invited Tiruchi District Tiny and Small Scale Industries Association (TIDITSSIA) for a discussion on the matter on September 18.
In deference to representations made by TIDITSSISA during the course of the year, the TANSIDCO has called for a meeting to discuss formation of a Special Purpose Vehicle for establishment of the Trade Centre at Panchapur on the outskirts, TIDITSSIA president N. Kanagasabapathy said.
For execution of the ₹11 crore project at the identified site measuring 9.4 acres off Tiruchi-Madurai national highway, the TIDITSSIA will be required to mobilise ₹6 crore.
“Industries will contribute 50% of their share of the project and the rest will be raised as bank loan,” Mr. Kanagasabapathi said.
The Trade Centre was sanctioned by the State government in the 2017-18 budget.
The Government had announced that 50% grant, subject to a maximum of ₹5 crore, would be extended to MSME associations for establishing trade facilitation centres in Tiruchi, Madurai and Salem.
The project cost includes land cost of ₹ 1.63 crore, which will be part of the funding through SPV. A little over ₹4 crore has been planned to be spent for construction of buildings and other infrastructure work.
Since the trade facilitation centre will be the venue for exhibition of products in the region, the TIDITSSIA has approached the district administration for laying a connecting road from the national highway.
The site was identified considering its advantageous location along the proposed ring road between the Tiruchi-Madurai and Tiruchi-Dindigul national highways.
In view of the delayed progress of the ring road project, the district administration has given an assurance to lay a road to a length of about three kilometres from the Tiruchi-Madurai national highway, it is learnt.