Union Government sanctions 60 technical textile projects

Coimbatore: The Union Government has sanctioned 60 technical textile projects with an aggregate project cost of Rs 897 crore under the technological upgradation fund scheme (TUFS) between April 1, 1999 and February 28, 2007.

The loan component sought by the promoters for these projects worked out Rs 356.58 crore. Of the 60 projects sanctioned, Rs 90.17 crore was disbursed to 55 projects, a communication from the Ministry of Textiles, Government of India’s official Web site has said.

The communication stated that on the basis of recommendation by a working group on the textile and jute industry, constituted by the Planning Commission for the Eleventh Plan, the Centre has proposed a scheme for development and growth of technical textiles which is in the process of being approved by a competent authority.