Potential of Jute market good: Fed President

By Staff
|
Google Oneindia News

Rajahmundry, Jan 24: Federation of Andhra Pradesh Industries President B V Rama Rao said the potential of Jute market was good in the country and abroad following the ban on plastic.

With the Centre encouraging jute industries by offering 20 per cent subsidy upto Rs 50 lakh, Mr Rao, who is also Managing Director of Swarnandhra Jute Mills (SJM) told newspersons here yesterday that he had set up set up a factory at a cost of Rs 10 crore for producing various jute products.

Stating that all the produce from the mills were being marketed in Karnataka, Kerala, Tamil Nadu and Andhra Pradesh, Mr Rao said the production capacity in the SJM would be expanded to 100 tonnes per day from the present 10 tonnes per day.

He said Chief Managing Director Andhra Sugars Dr Mullapudi Harischandra Prasad, and Andhra Pradesh Infrastructure Authority Chairman N S Hariharan would lay the foundation stone for the Mills expansion project at Pydibheemavaram in Srikakulam district on January 28.

The proposed project at Pydibhimavaram was being set up as jute cultivation was more in Srikakuklam and Vizianagaram, he said adding there was tremendous potential for export of high quality jute to United States, Germany and Gulf countries.

UNI

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