Centre nod for coir industry modernisation: PC

Sivaganga, Tamil Nadu, Mar 9 (UNI) Union Finance Minister P Chidambaram said the Centre had given its approval for a major scheme involving the modernisation, rejuvenation and technology upgradation of Coir Industry during XI Plan at a cost of Rs 243 crore.

Laying the foundation stone for the first-ever exclusive Coir Village at Singampunari Village, here last evening, Mr Chidambaram said the scheme would benefit coconut farmers, traders and others, besides generating employment opportunities for those depending on the coir industry.

Stating the scheme would rejuvenate the traditional coir industry, he said it would be implemented during 2007-2012.

He said the Coir Board would give training to the villagers on the new technologies, subsidy and steps would be taken for availing loans from nationalised banks.

Speaking on the occasion, Coir Board Chairman A C Jose said the Coir Village was being promoted by the Board and the Singampunari Coir Cluster Private Limited, a consortium of 47 entrepreneurs.

As part of the initiative, 20 units of spinners and 30 units of household weaving units would be set up at Singampunari.

The total investment in the village would be Rs 1.95 crore. The scheme would generate employment opportunities to 340 spinners, he added.

UNI XR/GSM RL PM1352