Home / Knowledge / News / Textiles / Pradip Overseas scraps textile SEZ for industrial estate
Pradip Overseas scraps textile SEZ for industrial estate
19
Oct '12
Ahmedabad-based home textiles maker Pradip Overseas Ltd. has withdrawn plans to set up textile sector specific special economic zone (SEZ) at Bhamara village in Bawla taluka of Ahmedabad district.
 
The company had earlier proposed to set up an SEZ, notified by the Government of India, over an area of 109.48 hectares. But, it has now scrapped the project owing to imposition of minimum alternate tax (MAT) on units in SEZ and poor response from investors.
 
The Board of Approval for the SEZ has also given a go-ahead to the company’s decision to withdraw their plan to set up textile SEZ.
 
The textile maker now plans to develop the land, purchased by it for developing the textile SEZ, into an industrial estate, where all types of companies can set up their manufacturing units, including textile companies.
 
The proposed industrial estate is likely to attract investments of about Rs. 35 billion, according to the company.
 
The industrial estate project is likely to get completed in five years time, Pradip Karia, Chairman and Managing Director of Pradip Overseas, told a press conference.
 
The new industrial park, when completed, is expected to generate employment opportunities for more than 10,000 people.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles minister Smriti Irani lighting the lamp to inaugurate the 6th edition of the International Apparel and Textile Fair ‘VASTRA 2017’, in Jaipur. Courtesy: PIB

Textiles | On 22nd Sep 2017

Placement rate in textiles sector is 70%: Indian minister

The recent high growth of foreign direct investment (FDI) in the...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Textiles | On 22nd Sep 2017

Messe Frankfurt acquires Source Africa, ATF textile shows

Messe Frankfurt, one of the world´s leading trade show organisers,...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search