About

The Project PALLAVADA TECHNICAL TEXTILES PARK PVT LTD (PTTP) was approved under the “Scheme for Integrated Textile Park” (SITP) of Ministry of Textiles (MOT), Govt of India. (GOI) and Govt of Tamilnadu in January, 2017 at a project cost of Rs 106.58 Cr (as per revised approval excluding Land cost and Prelim & Preoperative Cost)

The Total grant is Rs 40.00 Cr from MOT, Govt of India and Rs.9.00 Cr from Tamilnadu Govt. First part of first installment of Rs. 4.00 Cr has been sanctioned by MOT. Tamilnadu Govt has issued GO for sanction of Rs 9.00 Crores to the Park. (GONo.4/2012)

The Project is being established under PPP model ( Public Private Partnership) at Gurumandhur Road, Kolapalur Village, Erode District, Tamilnadu in 79 Acres. The Land is located between Gobi and Tirupur Highways and already registered in the SPV, PTTP name.

The Project consists of 10 units and has been planned to complete 50% units in June’18 and 100% units in June’ 2019. Now Construction is in progress at 4 Units.

IDBI Capital Ltd has been appointed for Financial Syndication and Structuring. Syndicate Bank has given inprinciple sanction for the Term Loan of Rs 56.00 Cr.