Andhra Pradesh - Visakhapatnam   

Three sites identified for jute park

VISAKHAPATNAM: The AP Industrial Infrastructure Corporation has identified sites at Sabbavaram, Nakkapali and Makavarapalem for allotment to Jute Park.

The park is proposed as part of the Ministry of Textiles decision to promote jute-diversified products. The ministry will give a grant of Rs. 40 crores for developing infrastructure like internal roads, power and water, drainage and communication network.

APIIC Managing Director B.P. Acharya, during a recent meet with investors, promised to expedite the process for land allotment. The AP Jute Development Centre, which was floated recently as special purpose vehicle to implement the project under Public-Private Participation format, is happy with the offer of 20 per cent investment subsidy on plant and machinery for the units coming up in the park.

The State government has promised to supply power at 70 paise per unit, reimburse stamp duty on land registration and hypothecation deeds and 3 per cent rebate in interest on loans.

According to projections, the park will be operational by November 2010 with a total investment of Rs.500 crores by entrepreneurs from various parts of the country.

West Bengal and AP have several jute mills. Of 29 mills located in AP among 116 in the country, 20 are twine and nine composite mills.

Units specialising fine yarn, textiles and fabric along with other products will support several small and medium enterprises. Ultimately, it will lead to taking up of mestha cultivation. The park is expected to provide 20,000 jobs.

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