The Textiles and Ports Minister Baburao Chinchansur on Tuesday announced that the Textile Investors Meet will be held in Bangalore on August 30, the event would be a platform for entrepreneurs to invest in the proposed textile park of international standards in Yadgir district.
As many as 500 investors are expected to participate in the meet. Investors from across the country including Gujarat (which hosts a large number of textile mills), Mumbai, Hyderabad and Kolkata would be participating. The meet will be inaugurated by Chief Minister Siddaramaiah. The event will be held at Hotel Windsor Manor.
The State government is anticipating an investment of Rs 10,000 crore in the park during the next five years. The project has a potential to generate five lakh jobs.
The Karnataka Industrial Areas Development Board (KIADB) has acquired the land for the project at the rate of Rs. 6 to 7 lakh per acre. They have acquired total 3,300 acres of land in Yadgir of which 1,000 acres will be used for setting up the textile park.
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