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Jute sector to get a fillip with upcoming park in Vizag
31
Jul '08
Recently, entrepreneurs of Andhra Pradesh took the initiative to form a special purpose vehicle named Andhra Pradesh Jute Development Centre Limited (APJDC), to establish a jute park with capital investment of nearly Rs1 billion in Sabbavaram Mandal of Visakhapatnam district.

The construction work in Vizag jute park will begin by February 2009 and will be completed in two years time. It will be one of the six parks in India, under Union Textiles Ministry's initiative, to encourage the diversified jute product industry that has huge potential.

Andhra Pradesh Industrial Infrastructure Corporation (APIIC) will provide 150 acres of land for building this jute park, which would incorporate four mills. These units will produce fine yarn, textiles and fabric along with other products in order to assist nearly 90 small and medium scale enterprises engaged in making diversified jute items.

For incorporating latest facilities at the park the Textile Ministry will grant Rs400 million. Other State Government bodies and partners will contribute the remaining amount. Power will be supplied at subsidized rate of 70 paise per unit.

Experts are of the opinion that after the park comes into existence it will attract investment of approximately Rs 5 billion. The cultivation of mestha crop will also be emphasized in the region as it is used for making jute sacks.

The jute park will provide employment opportunity for nearly 20,000 people who will be associated with the sector directly or indirectly.

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