Shimla, April 5 (Inditop.com) The Jindal group will invest Rs.204 crore to set up facilities in a upcoming textile park in Himachal Pradesh, an official said here Monday.
“The government is developing a textile park near Amb industrial area in Una district. A private company, Himachal Textile Park Ltd, is developing the park with an outlay of Rs.107.74 crore,” Industry Commissioner Manoj Kumar told Inditop.
He said two subsidiaries of the Ludhiana-based Jindal group — Jindal Medicot Ltd and Jindal Speciality Textiles Limited — would invest Rs.204 crore in the facilities.
“The Jindal group subsidiary companies would commence production by March 2011 and these would provide employment to 2,200 people,” he added.
While Jindal Medicot will manufacture medical textile products like absorbent bleached cotton wool and cotton crepe bandages and cloth, Jindal Speciality Textiles will produce PVC laminated products, tent fabrics, and truck sliders.
Industry Minister Kishan Kapoor said these projects are coming up despite the excise duty exemption scheme expired March 31.
“Similarly, Hero Honda has plans to invest over Rs.2,000 crore in setting up a plant to manufacture motorcycles. Nestle is also setting up a facility in the state,” he said.
