Five companies have expressed their desire to set up textile processing units in Maharashtra with an investment of `1,500 crore. Interestingly, all these projects are proposed in the Vidarbha and Marathwada region, which are otherwise considered to be backward regions in terms of industrial development.
State textile minister Naseem Khan on Monday said that Oswal Spinning and Weaving Mills Limited, Etco Spinners Private Limited, Ginni International Limited, Pravin Shelli and AEGEM Industries Limited have shown interest in proposed textile parks in the state.
“Oswal Spinning and Weaving Mills has shown interest in setting up a unit in Nagpur with an investment of `350 crore. The company has already started looking for suitable land. AEGEM Industries has proposed to set up a `300-crore project in Parbhani. The estimated cost of the proposed projects of Etco Spinners and Ginni International is also around `300 crore each, while Pravin Shelli will set up a project worth `205 crore in the Vidarbha region,” the minister said.
The minister further said that the Centre has approved 14 textile parks in the state and the state cabinet has also given its approval to the state’s share in these textile parks.
According to the new textile policy of the state, companies will get 10 per cent subsidy on infrastructure investment and 12.5 per cent subsidy on interest for the industries set up in Vidarbha, Marathwada and north Maharashtra regions. “The new textile policy has generated such an interest that South India Mill Association has asked its members in Tamil Nadu to take benefit,” the minister said.