+917718880355

news

Integrated textile park to be developed at Malegaon

YarnsandFibers News Bureau 2017-08-04 10:00:00 – Nashik

Maharashtra government is planning to develop an integrated textile park on the theme of Cotton to Cloth, Farm to Fashion which will house units from weaving, spinning, garmenting segment. The textile park will come up on the sprawling 345 hectare of land in Malegaon.

State industries minister Subhash Desai said that the government has taken decision to hand over the land to the state undertaking Maharashtra Industrial Development Corporation (MIDC) on Thursday to come up with the proposed textile park in Malegaon. The investment is expected to the tune of Rs 1 lakh crore and it will be creating around 10,000 jobs.

Similar integrated textile parks are proposed at Amravati, Majalgaon, Chikhli, Akola, Naldhana, Parbhani, Yavatmal, Aurangabad and Nanded.

The objective behind developing Textile Park is to strengthen linkages that would take into account farmers who produce cotton, to spinning of yarn, to ready-made garments in industrial units, complete with innovative design and marketing. The MIDC will develop common effluent treatment plant at the Malegaon integrated textile park.

Desai further added that investors will get both physical and fiscal incentives envisaged in the state's textile policy. The government's strategy is to ensure increased participation by the investors in the state's textile industry. The state government to encourage investors to invest in these parks has reduced the premium on MIDC land.

The capital subsidy given to self-financing textile projects — spinning mills, cotton ginning, processing and printing units, will get 35 percent capital subsidy, technical textiles and composite units, will be given 30 percent capital subsidy, and powerlooms and other textile related units, 25 percent capital subsidy.

0 0 vote
Article Rating
0 Comments
Inline Feedbacks
View all comments

Market Intelligence

Ask for free sample Report


why us?
21 yrs

experience

Fortune 500

Customer Base

100%

dedicated team

55+

Countries Served Worldwide


newsletter

Register below to receive our newsletters with latest industry trends and news!

WeCreativez WhatsApp Support
Our support team is here to answer your questions via WhatsApp. Ask us anything!
? Hello