Textile Park Investments in India
Four companies show keen interest to invest in Brandix textile park, and MIDC acquires 113 hectare land to set up textile park in Nashik
Four companies show keen interest to invest in Brandix textile park
Brandix India Apparel City (BIAC) signs four Memorandums of Understanding with the State government during the CII Partnership Summit-2017 organized at Visakhaptnam, Andhra Pradesh on January 27 and 28, 2017 at APIIC grounds with an investment of Rs. 250 crore to create 3000 new jobs.
The MoUs are related to establishment of two Chinese companies Leung Fung Textiles and Tian Yuan, and two Indian companies Aggarwal Elastics and Manav Packaging in the Textile Park located at Atchutapuram near here.
The MoUs, on behalf of the four companies, were signed by Dora Swamy, Indian Partner of Brandix in the presence of Chief Minister N Chandrababu Naidu. The total investment would be around Rs 250 crore, the new companies are expected to generate around 3,000 new jobs for both men and women.
The companies would be establishing manufacturing units within the Brandix Park to manufacture and export lace, apparel, elastics and packaging material. The Chief Minister expressed happiness for their investment initiatives and encouraged Brandix management to continue generating more jobs in future.
The agreements were signed at the CII Partnership Summit by Indian partner of Brandix Dora Swamy in the presence of Chief Minister N. Chandrababu Naidu.
MIDC acquires 113 hectare land to set up textile park in Nashik
The Maharashtra Industrial Development Corporation’s (MIDC) regional office proposes textile park for which it has acquired 113 hectare land parcel. The proposed park is expected to attract investment and provide job opportunities to the youths
A proposal for infrastructural development has been sent to the head office for approval. On receiving approval, the MIDC will float tenders for developing infrastructure.
A senior official from the MIDC said that they have already acquired 113 hectare at Sayane near Malegaon that will house only textile units. They are in the process of developing infrastructure. They have already prepared a proposal worth Rs 15 crore to develop infrastructure like roads, water supply, streetlights, among others. The proposal has been sent to our head office in Mumbai for approval.
He further added that they will float a tender for infrastructural works once they get a nod from their head office. There may be delay of a month due to code of conduct due to civic and ZP elections. It will take around a year for developing the infrastructure following which plots at the park will be allotted to textile units.
Manish Rawal, chairman of NIMA infrastructure committee, said that this is a positive development for Nashik. Textile sector is still new for Nashik and this proposed Textile Park will attract new investments. This will not only fetch investment, but will also provide job opportunities to thousands of youths. It will also create a vendor base in Nashik.
He added that they are already making efforts to bring in new investment, but they need adequate land. At this juncture, 113 hectare (282 acres) will be available for textile units. At the same time, the MIDC needs to develop infrastructure at the earliest and start allotment of plots for those who wanting to set up textile units.
Apart from this, the MIDC is also mulling over to build Common Effluent Treatment Plant (CETP) project for the textile units. The CETP project is estimated to cost Rs 10 crore. They are preparing the proposal that will be sent to their head office for approval.