AP Govt approves setting up of spun silk mill

July 20, 2009 - India

The Andhra Pradesh government has decided to allot a total of 334.9 acres for the development of an industrial park in Visakhapatnam and 6 acres for establishing a mini spun silk mill in Anantpur district.

The Commissioner of Sericulture had earlier sanctioned 3 acres of land and now the government ratified the decision and handed over an additional 3 acres of land for a lease period of 10 years.

The spun silk mill project is the first of its kind in the state and is expected to provide employment to many farmers along with helping them to increase their incomes.

The state cabinet has also decided to constitute a ‘Group of Ministers’ to work out the modalities to extend financial help not only to weaver cooperative societies, but also to the handloom weavers directly.

The cabinet also decided to extend by three years the Rs 50 crore government guarantees extended to the AP State Cooperative Bank towards providing the Weavers Cooperative Society (APCO) with cash credit facilities.