Financial Daily from THE HINDU group of publications
Tuesday, Feb 12, 2002
Financial Daily from THE HINDU group of publications Tuesday, Feb 12, 2002 |
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Agri-Biz & Commodities
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Floriculture Tanflora notified agri-export zone Our Bureau
CHENNAI, Feb. 11 TANFLORA, the floriculture incubator project being set up by the Tamil Nadu Industrial Development Corporation (Tidco) and the Bangalore-based CCL Flowers near Hosur has been converted into an agri-export zone (AEZ). The Directorate-General of Foreign Trade (DGFT) issued a notification to this effect last week. This follows the signing of a memorandum between the Agricultural and Processed Food Products Export Development Authority (Apeda) and Tanflora. The Centre had recently sanctioned an AEZ for flowers in Tamil Nadu with the objective of making use of facilities under the scheme for Tanflora. Following the conversion of Tanflora as an AEZ, produce in this project would be entitled to various fiscal incentives. The AEZ status would also facilitate forward linkages with regard to marketing of the produce, identified as a major handicap in export of flowers. Exports from this zone are likely to commence from September 2002 and Apeda estimates that over the next five years exports worth Rs 150 crore would take place. The 240-acre Tanflora project will have some 50 hectares under greenhouse. It entails an investment of Rs 24.85 crore, of which the Centre has contributed nearly Rs 3.48 crore. Tidco holds 26 per cent stake in project while the co-promoters, CCL Flowers hold 25 per cent. The International Finance Corporation has picked a 20 per cent stake and other financial institutions and member-growers contribute the balance 29 per cent. The project concept has been inspired from AGREXCO, a Government-sponsored flower growers' cooperative in Israel that was instrumental setting up the Israeli industry. Meanwhile, DGFT has also notified an AEZ for grape and grapewine in Maharashtra, covering the districts of Sangli, Nashik, Pune, Sholapur, Satara and Ahmedabad.
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