NSIC signs MoU with TN body

Madurai: The National Small Industries Corporation, New Delhi has signed a memorandum of understanding with the Tamilnadu Foodgrains Marketing Yard (TFMY), the special purpose vehicle for the establishment of a milling cluster, coming up at a cost of Rs 40 crore on a 30 acre- site near Koodal Nagar Railway Station here, for the upgradation of the activities of micro and small enterprises engaged in grain processing sector in the region.

According to the agreement, NSIC will enable the members to market their products directly and also through common branding, help in getting special discount from the rating agencies, help for term-loan banks and take-over of liabilities through NSIC tie-up banks, help through loans for procurement from Governments and public sector agencies, help in import of raw materials and machineries, help strengthen the infrastructural facilities by providing technology upgradation.