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Chennai, Nov.5

Indian Overseas Bank has signed a Memorandum of Understanding with Coir Board for implementation of rejuvenation, modernisation and technology up-gradation of the coir industry. The objectives of the scheme is to encourage traditional coir units to migrate to modern methods with induction of modern, efficient and high speed machineries, equipments and looms and there by improve the production quantity, quality and profitability. The scheme will be operational during the XI five year plan period ending 2012 with a total financial outlay of Rs 243 crore and will benefit about 15,000 coir units. –

Our Bureau

More Stories on : Credit Market | Coir

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