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SPV process for permanent trade centre to begin soon: Collector

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The process of floating a special purpose vehicle (SPV) for establishing a permanent trade centre in the city is expected to begin after a couple of weeks, according to available indications.

Speaking to reporters here, Collector K.Rajamani said 9.4 acres of government land at Panchapur had already been allocated for setting up the trade centre. “We have already given enter upon permission and it is up to TIDITSSIA to begin the work.”

The trade centre is to be established under public-private partnership mode, and the project will be executed through Tamil Nadu Small Industries Development Corporation in association with the Tiruchi District Tiny and Small Scale Industries Association (TIDITSSIA).

Clearance awaited

“We are awaiting clearance from SIDCO and it expected to come within 15 days. Once it is received, the SPV will be floated,” said N. Kanagasabapathy, president, TIDITSSIA, who was also present.

The State government, in its 2017-18 budget, had announced that 50% grant, subject to a maximum of Rs. 5 crore, would be extended to MSME associations for establishing trade facilitation centres in Tiruchi, Madurai and Salem.

The trade centre in Tiruchi will entail an investment of Rs. 11 crore. The state-of-the-art trade centre will house exhibition and convention halls with communication facilities and office space to be rented out to members of MSME associations or individual units for displaying their products and hold trade-related discussions.

Establishment of a trade centre on the lines of those in Chennai and Coimbatore has been a long-pending demand of industry in Tiruchi district.

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