According to reports, the Coimbatore Small Industries Association (Codissia) is emerging a trend-setter in more ways than one.
The association had, way back in 1998-99, conceived the idea of establishing a trade fair complex in Coimbatore.
“It was quite unheard off in those days for industry associations to approach banks for a loan. Normally, industry bodies ask for grants. So when this proposition came to us, we, at Sidbi, after a lot of deliberation, decided to back the proposal,” said the Deputy Managing Director of Sidbi, NK Maini.
Maini was in the city to inaugurate the 15th edition of Intec 2014, an industrial trade fair expo organised by Codissia.
The complex has provided a platform for people from across the country to organise trade fairs, conduct marriages, perform yagas, discourse and so on, thus making it a commercially viable proposition. After successfully establishing the Codissia Trade Fair complex, the industry association is now on its next mega initiative of promoting an industrial estate on the outskirts of this city.
The exercise of identifying a land bank to moot this project is underway. The association is looking to acquire 500 acres for the project.
Codissia has yet again approached Sidbi seeking financial support for this venture. And as Maini puts it “we are delighted to be associated with Codissia and have no hesitation in supporting them in this initiative.”
With Sidbi sanctioning ₹8 crore and syndicating ₹125 crore of this ₹225-crore project to banks such as Canara Bank, Syndicate Bank and Central Bank of India, Codissia is now confident of starting the project work in the next six months.
“We have sought support for land acquisition. The Industrial Park is coming up in an area of around 250 acres at Kallampalayam village in Thondamuthur Taluk and in an equal area at Vagarayampalayam, located at a distance of 28 km from Coimbatore,” the Chairman of Codissia Industrial Park Ltd AV Varadharajan told Business Line.
The promoters are proposing to establish a ‘green industrial belt’ in the said locations.
“The units would operate on solar or wind power, follow a system of zero liquid discharge among other things. Over 250 units have evinced interest in setting up their presence in this proposed park,” said Jagannathan, the Finance Director of Codissia Industrial Park.