AP Govt inks MoU with textile majors

Hyderabad, Jan 3 (UNI) Andhra Pradesh Minister for Labour, Handloom and Textiles G Vinod today said the Handloom and Textiles Department had inked Memorandum of Understanding (MoU) with several textile majors to establish units in the state.

Addressing the press here, Mr Vinod said an MoU was signed with Southern India Textile Mills Association, Coimbatore to establish a unit at Naidupeta in Nellore at an investment of Rs 1,100 crore which would generate employment for 20,000 people.

Loyal Textiles Private Limited of Chennai would establish another unit in the same area at an investment of Rs 100 crore with employment potential for 4,000 people.

Similarly, Vrindavan Pvt Limited, Noida would establish unit in Chittoor costing Rs 500 crore to create 21,000 jobs.

The other companies which will set up units in the state were MAS Holdings of Colombo (Asian Apparel Fabric Technology Park Limited) and DPM Textiles with an employment potential of nearly 35,000 people. The total investments would amount to over Rs 1,800 crore.

The state government had had approved a scheme for upgradation of power looms at a cost of Rs 20,000 per loom.

The government had also sanctioned 15,000 workshed-cum-houses for weavers with a unit cost of Rs.40,000 during 2005-06 under Weavers Housing Programme, he added.

UNI