Tuesday, Sep 14, 2004
Tuesday, Sep 14, 2004 |
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Advts: Classifieds | Employment | Andhra Pradesh
By Our Special Correspondent
SRIKAKULAM, SEPT. 13. The setting up of Transworld Garnet unit, which was inaugurated by the Chief Minister, Y. S. Rajasekhara Reddy, at Sativada, near here, on Sunday, would provide direct employment to nearly 800 persons. According to R. Srinivasan, of Transworld Garnet, the plant would also ensure indirect employment to a similar number of persons and would ensure better standards of living. Locals would get top priority in employment, he said.
Expansion
He told The Hindu that Western Garnet International, Canada, which is the dominant partner of Transworld Garnet with 74 percent stake, had so far invested Rs. 50 crores in the first phase of the project. Western Garnet was interested in expansion and value addition of the project for which a further investment of Rs. 200 crores would be made. `Almandine Garnet' also known as common garnet or iron garnet was mainly used in abrasive blasting, water jet cutting and water filtration. The Tamil Nadu unit produces 60,000 tonnes and exports the same to 23 countries.
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