The Tirunelveli district administration in Tamil Nadu has invited entrepreneurs to apply for a lease of 16 acres of land at Gangaikondan SIPCOT, for a 94-year period, to set up food processing units and avail investment and loan interest subsidies.

In a statement, District Collector Dr KP Karthikeyan said, "The state government is setting up a large-scale food park in Gangaikondan SIPCOT through the Tamil Nadu State Agricultural Marketing Board for Rs 77.02 crore over 50 acres. The food park is being set up with all facilities, including inner roads, electricity, water, car parking, office buildings, a 7,500 metric tonne warehouse and a 5,000 metric tonne cold storage facility.

The park has 16 acres of vacant land for new food processing units. Entrepreneurs can take this on a 94-year lease by paying Rs 50 lakh per acre. They can apply for the same through www.tansidco.tn.gov.in. The beneficiaries will get a subsidy on the investment and can avail 3 % waiver in the interest on their business loan. The state government will also offer technological support to the entrepreneurs and skill development training to their staff, the statement read.