CHENNAI: M.K. Stalin, the Chief Minister of Tamil Nadu, said on Monday that the State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) will build a huge textile park in the Virudhunagar district.

Stalin said the 1,000-acre textile park will be under the Central government's Mega Investment Textiles Parks (MITRA) initiative, and a complete project report will be prepared soon, as he laid the foundation stone for the International Furniture Park in Thoothukudi.
SIPCOT is also aiming to build food parks in the districts of Theni and Thoothukudi, according to Stalin.He said that the state government had announced that an international furniture park, worth Rs 4,500 crore, will be built soon.

Experts estimate that the global furniture market would reach $750-800 billion by 2025, and while China and Vietnam will contribute significantly, India's portion will be minimal, according to Stalin. He said the furniture park will be built on 1,156 acres of land in Thoothukudi, with a Belgium business, a global leader in the manufacture of doors and windows, investing Rs 430 crore.

Hettich India Pvt Ltd and Deceuninck Profiles have been given space in the furniture park, according to Stalin. The state government signed a Memorandum of Understanding (MoU) with eight companies on Monday, agreeing to invest Rs 2,845 crore to set up their facilities in the furniture park.

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