The Hindu : Andhra Pradesh / Hyderabad News : Hi-tech textile park to be set up by next June

Online edition of India's National Newspaper
Wednesday, Jun 29, 2005

Andhra Pradesh

Andhra Pradesh - Hyderabad

Hi-tech textile park to be set up by next June

Special Correspondent

Agreement signed in Chief Minister's presence to develop it as a national textile hub

HYDERABAD: The `Hyderabad Hi-Tech Textile Park,' a mega public-private venture with an initial investment of Rs. 300 crores will be set up before June next near Cheguru, Mahabubnagar district, the Chief Minister Y.S. Rajasekhara Reddy, said on Tuesday.

An agreement to develop it as a national textile hub was signed by weaver entrepreneurs and the Infrastructure Leasing and Financial Services (IL&FS) in the presence of Dr. Reddy on June 15. The project is expected to provide direct employment to 5,000 persons and enable an equal number to earn their livelihood.

In a message to entrepreneurs and developers, Dr. Reddy said the Centre had approved the proposal.

He said several subsidies were on the cards with the Centre offering five per cent interest subsidy or 20 per cent capital subsidy through Technology Upgradation Fund Scheme (TUFS) and 25 per cent subsidy on work sheds under Group Work Shed Scheme (GWSS). The State Government would also extend additional incentives shortly under a new textile policy.

The Chief Minister said 125 well-experienced potential weaver entrepreneurs had already joined the textile park and purchased 125 acres at a cost of Rs. five crores. As many as 300 shuttleless looms would be established at a cost of Rs. 150-200 crores in the first year and more than a 1,000 would be added later.

World-class facility

The release said it would be a world-class facility having a state-of-the-art textile processing unit to act as mother unit, modern shuttleless power loom weaving units with focus on value-added product mix, including suitings and export quality cotton fabrics, fibre and fabric testing laboratory and skill upgradation training centre for weavers. In addition, it would also have warehousing facility, raw materials sourcing centre and an outsourcing centre for international buyers. Dr. Reddy said the venture with backward and forward linkages on Hyderabad-Bangalore national highway would change the profile of weavers in the State.

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