Jute body seeks 150 acres in Vizag

Andhra Pradesh Jute Development Centre Limited (APJDC), a special purpose vehicle for the promotion of jute park in the state, has sought 150 acres of land from the government in Visakhapatnam district.

The AP Industrial Infrastructure Corporation has already identified land at Sabbavaram mandal in Vizag district, said BV Rama Rao, vice chairman and managing director, APJDC.

Vizag jute park is one of the six parks coming up as part of textile ministry’s decision to promote jute diversified products.

Once the state government allots land, APJDC will spend Rs 100 crore to provide infrastructure facilities. The Centre would contribute Rs 40 crore, he said.

Upon completion, the park would attract investments worth Rs 500 crore. The state government would supply power at a subsidised rate of 70 paise per unit, reimburse stamp duty on land registration and offer a three percent rebate on interest on loans, he added.

APJDC will provide six months’ training in the production of jute diversified products to prospective entrepreneurs and facilitate financial assistance through banks, arrange to supply raw material and help in marketing of finished products both in India and abroad, he said.