HP likely to get its first technical textile park
Himachal Pradesh has finally paved the road for setting up of its first ‘private technical textile park’ after the Union government last week gave a green signal to 21 integrated textile parks across nine states, which would come up within 36 months of grant of the approval.
The Himachal Textile Park Limited, a subsidiary of polyester and acrylic yarn manufacturer, Jindal Cotex Limited, would manufacture technical textile products both with medical and industrial application use.
Ashish Jain, CFO, Jindal Cotex Limited said, “Jindal Medicot Limited and Jindal Specialty Textiles Limited -- the two subsidiaries of yarn manufacturer -- would set up their technical textile projects in the park.
The company is eyeing US and European export markets for the technical textile products that would be manufactured in the park as the company believes that 60 per cent of the revenue in coming years for the group would come through technical textile products .
The Himachal Textile Park Limited, coming over an area of 65 acres, envisages investment of over Rs 300 crore while revenue realisation from the park is over Rs 600 crores.
Jain added, “Of the proposed investment, Rs 100 crore would be utilised to create infrastructure and related things, Rs 200 crore would be utilised for the machinery and other things.
The technical textile industry, which is also termed as the ‘sunrise industry’ by many, is estimated to be growing over 10 per cent.Analysts believe India and China would be the future drivers of technical textile industry, however impediments exist. The biggest challenge remains access to good and competitive manufacturing practices. “We have entered into agreement with Korean company that will provide us technical knowhow.” said Jain
Also for training the manpower, consultant has been hired which would provide us with desired skill set required by the units setting up their bases in the park.
While Jindal Medicot would be engaged in manufacturing medical textile products like absorbent bleached cotton, wool cotton crepe bandage, Jindal Specialty Textiles would be manufacturing PVC laminated products, and other technical textile products.