Friday, March 5, 2010

Textile industry gets a boost

MALAPPURAM: The budget presented by Finance Minister T.M. Thomas Isaac on Friday has given a renewed vigour to the public sector textile industry in the State.

As much as Rs.100 crore had been allocated for the revival of the public sector textile industry. �It is for the first time that the States public sector textile industry has got such a commendable budgetary allocation,� said P. Nandakumar, chairman of the Kerala State Textile Corporation.

�In fact, Kerala is the only State to spare so much for the public sector textile industry. No other State has allocated so much for the textile industry,� he said.

Mr. Nandakumar said the budgetary allocation would give the textile industry the much-needed boost. As much as Rs.36 crore has been kept aside for setting up a modernised spinning and weaving mill at Komalapuram, Alappuzha.

A weaving mill will be opened at Pinarayi, Kannur, at a cost of Rs.20 crore. As much as Rs.16 crore has been allocated for an open-ended spinning mill at Uduma, Kasaragod. The government will spend Rs.15 crore for modernising the cotton mill at Thiruvannur, Kozhikode.

�We are planning to enhance the spinning capacity of the mill by installing more new spindles,� said Mr. Nandakumar.

Dr. Isaac allocated Rs.5 crore for the spinning mill in Thiruvananthapuram. �This is a timely and valued move by the government to save an industry from crisis,� said Mr. Nandakumar.

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