AP Govt signs MoU with TN's leading textile companies

Hyderabad, Nov 9 (UNI) The Andhra Pradesh government today signed a Memorandum of Understanding (MoU) with Southern India Mills Association (SIMA), Coimbatore and Loyal Textiles Mills Ltd, Chennai, for setting up mega projects in Nellore district.

An official statement here said the MoU was signed in presence of Chief Minister Y S Rajasekhara Reddy.

With SIMA and Loyal Textiles setting up their industries in Nellore, the district which was nearer to Chennai, Tamil Nadu, would become a textile hub.

The SIMA would bring in investments to the tune of Rs 1,200 crore by inviting ten industries from its peer group and create employment to 15,000 people, the statement said.

The state government would provide 650 acres of land at acquisition cost plus service charges.

The Textile Park would have spinning, weaving, knitting and garmenting units. The park would avail incentives announced by the government in its Industrial Investment Promotion Policy 2005-2010 and the Textile and Apparel Promotion Policy 2005-2010.

Loyal Textiles would invest of Rs 100 crore and create employment to 1,000 people. They had requested for 150 acres of land to set up their textile project.

The SIMA would bring companies with a minimum investment of 100 crore each, over a period of five years, to the Park.

Thiagarajar Mills Ltd, Sri Ramakrishna Mills (Coimbatore) Ltd, GTN Textiles Ltd, Prime Textiles Ltd, Gangotri Textiles Ltd, Jagannath Textile Company Limited, Subadra Textile Private Ltd, Shree Rajasthan Polycot (Division of Shree Rajasthan Syntex Limited), Sri Anjaneya Cotton Mills Pvt Ltd, Eurotex Industries and Exports Ltd and Laxmi Mills Company Ltd had expressed interest to set up units inside the proposed park.

The SIMA would develop common infrastructure including water treatment and supply system, effluent treatment plant, training centre, accommodation for workers, first aid centre, fire fighting, testing centre, which would not only meet the functional requirements of the member units but also comply with relevant regulatory and global trade standards.

State Industries Principal Secretary Laxmi Parthasarathy, Principal Secretary of Finance I Y R Krishna Rao and other officials were present on the occasion.

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