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| LITP gets first installment |
| Vikas Sharma / New Delhi/ Chandigarh Oct 12, 2009, 00:31 IST |
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The work on the upcoming Ludhiana Integrated Textile Park (LITP) seems heading in the right direction, as the first installment of Rs 4 crore towards completion of the project has been received by the Ludhiana Integrated Textile Park Limited.
Talking to Business Standard, LITP Managing Director Vinod K Thapar said that a grant amounting to Rs 40 crore had been sanctioned, of which Rs 4 crore were received.
Thapar said that already 86 knitwear and textile units had given their consent to set up their bases in the park, which was coming up at a distance of about 15 kilometers from Ludhiana on the Ludhiana -Delhi road.
The park envisages streamlining the unorganised functioning of knitwear and textile industry in Ludhiana and help the textile and knitwear industry brace up for global competitiveness by providing top class facilities.
“To start with, the park is being developed on 60 acres with the provision of further extension. It would be a cluster of about 90 units of knitwear/textile industry. While the park envisages total investment to the tune of Rs 1,500 crores , it would also provide direct and indirect employment to about 1,25,000 persons,” he said.
Thapar added that the project would have the provision for roads, lights, effluent treatment plant, sewerage, storm water, captive power plant, trade centre and sophisticated research and development centre. Already the work of boundary wall around the park was complete and earth filling was near completion, he added.
Throwing light on the background of park ,Thapar said the idea to set up a special textile park in Ludhiana was mooted by Ludhiana Knitwear Club. Encouraged by the co-operation from the members, a special purpose vehicle (SPV) called Ludhiana Integrated Textile Park Ltd was formed.
“The necessity of forming this SPV arose as it was a pre-requisite for developing a textile park under the Government of India, Ministry of Textiles scheme, namely ‘scheme for Integrated Textile Park’s’ (SITP),” Thapar added.
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