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| Govt to grant Rs 600 cr for 15 upcoming textile parks |
| Press Trust of India / Surat Sep 09, 2009, 15:55 IST |
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The Centre is considering a proposal for granting Rs 600 crore for 15 more state-of-the-art Integrated Textile Parks to be set up in public-private -partnership at a total cost of Rs 2,000 crore.
These parks, which are to be completed in three years are in addition to 40 such facilities which were sanctioned earlier and are coming up in different states, Textiles Minister Dayanidhi Maran said today.
"The government is actively considering the proposal," Maran said, inaugurating the 104-acre Gujarat Eco Textile Park here.
"Every industrial activity produces environmental load which harms the local environment and demotivates the local population. This project will address these concerns," he said.
Set up at a cost of Rs 129 crore, the park would attract an investment of Rs 705 crore, Maran said. Infrastructure Leasing and Financial Services Ltd (IL&FS) is an advisor for the project.
Maran said the park would generate employment for 25,000 people besides producing products worth Rs 850 crore annually.
It will house units engaged in technical textiles, processing, common effluent treatment plant, research and development and design centre. Under the Scheme for Integrated Textile Parks, the government provides up to 40 per cent of the project cost as grant subject to a ceiling of Rs 40 crore. The balance funding is done by the private promoters in the special purpose vehicle.
Of the 40 parks under implementation, seven are in Gujarat, of which five are in Surat. All these 40 complexes are likely to attract a total investment of Rs 19,450 crore with an employment potential of 800,000 people.
The Rs 3,00,000 crore textiles industry is the second largest employment generator after agriculture, employing 35 million people.
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