Andhra Pradesh Jute Development Centre Limited (APJDC), which is an organization working exclusively for the promotion of Jute Parks in the state of Andhra Pradesh, has sought 150 acres of land from the government in Visakhapatnam district.
According to the Vice Chairman and Managing Director, APJDC Mr. BV Rama Rao, the AP Industrial Infrastructure Corporation has already short-listed land at Sabbavaram mandal in Vizag district.
The Jute Park in this district is among the six parks, which are a part of textile ministry's decision to encourage diversified jute products. Following allocation of land by the state government, APJDC will spend Rs. 1 billion for infrastructure and development, said Mr. Rao.
Central government will provide Rs. 0.4 billion for the park, which will attract investments of Rs. 5 billion on completion. It will receive power from government of Andhra Pradesh at a subsidized rate of Rs 0.70 per unit. The government will also reimburse stamp duty on land registration and offer three percent rebate on interest on loans, he added.
A six months training would be imparted to the prospective entrepreneurs by APJD for producing diversified products of Jute. Also, it will offer financial assistance through banks, supply raw material and market finished products' in domestic as well as in international market, informed Mr. Rao.
Fibre2fashion News Desk - India