Under its Scheme of Integrated Textile Parks (SITP), the Project Approval Committee of the Union Ministry of Textiles has given green signal to a proposal for setting up an integrated textile park in the Lepakshi Knowledge Hub (LKH).
Spanning on an area of 10,000 acres in Andhra Pradesh's Anantpur district, LKH has identified an area of 130 acres for establishing the textile park.
An investment of Rs. 1.2 billion will be utilised to set up common infrastructure, ready-to-use garment producing facilities, design studios, a garment training institute and a trade centre in the textile park.
Alongside a fashion school, 15 apparel and textile firms would set up their fabric, readymade garment and home textile production units in the textile park.
According to LKH, the total investment in the park is likely to cross Rs. 6.6 billion, including Rs. 2.8 billion for installation of plant and machinery.
Work for establishing the textile park, which is being set up in association with the Andhra Pradesh government, would start from April this year and is likely to conclude within 18 months.
Once fully operational, the park is likely to generate more than 10,000 job opportunities, particularly for women from surrounding villages, LKH Managing Director Srinivasa Balaji said.
The park is also intended to have other segments like an aerospace and precise engineering special economic zone (SEZ), a biotech SEZ, an Ayush Park and a free-trade warehousing zone. LKH has already obtained all requisite approvals from the Central Government in respect of the said projects.
As stated by Mr. Balaji, Bangalore based garment producers have submitted letter of intent to the LKH urging to allocate a built-up space of 100,000 sq ft to start their operations. He further said that in the second phase, LKH would create an extra space of 200,000 sq ft for the same firms.
Fibre2fashion News Desk - India