Rs. 450-crore textile mall coming up in Erode.

An integrated textile mall is coming up at the powerloom hub of Erode at an investment of about Rs. 450 crore.

While the Centre has pitched in with a grant of about Rs. 40 crore, the rest is borne by the promoters and other stakeholders from textile industry, with the state offering partial stamp duty relief for the project land.

Explaining the features of the Erode 'Texvalley' project, C Devarajan, Vice-Chairman and P Raajashekar, Managing Director, respectively of Erode Textile Mall Ltd that is executing the project, said that after the announcement of a 'Comprehensive Powerloom Cluster Development Scheme' in the 2008-09 Budget, the Ministry of Textiles appointed a Cluster Management and Technical Agency for studying the support needed for the Erode powerloom cluster.

HBL