Kerala - Alappuzha   

Coop. banks launch industrial ventures

Staff Reporter

Banks to give capital under ICDP

ALAPPUZHA: The Alappuzha District Cooperative Bank has embarked on a programme to encourage cooperative societies to start rural and agro-industries under the Integrated Cooperative Development Project (ICDP), Nalanda Gopalakrishnan Nair, president of the bank, said.

Talking to reporters here, Mr. Nair said the bank would provide capital investment for such initiatives. He said six industrial units that make value-added products out of coconut would soon start functioning in the district. Three units had already been inaugurated, he added. An industrial unit manufacturing bottled tender coconut water and coconut ice cream was inaugurated at Kayamkulam last week.

Mr. Nair said a neem cake manufacturing unit under the ICDP project promoted by the Kaippuram cooperative bank here would soon become functional. The unit will be inaugurated on September 3. He said the total estimated cost of the unit was Rs. 80 lakh and the district cooperative bank had provided a loan of Rs. 50 lakhs under the ICDP project. Mr. Nair said various other industrial units manufacturing value-added products out of locally available raw materials would be set up in the district in the coming months.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Coop. banks launch industrial ventures
Rs.63.31-crore budget for SN Trust
Hooch seized

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu