| "The firm is acquiring land area on its own; we will support them if they want," said O P Rawat, principal secretary, department of industries, adding, "work on the project is expected to begin next month and will be completed within a year." Company officials were not available for comment. |
| The state industries department had identified a land area of almost 1,000 acres near Budni for the purpose. The company will set up a sheeting fabric, and a terry towel and yarn unit with a 200,000-spindle capacity. It will be a 100 per cent export-oriented unit. The firm has to acquire 890 acres. |
| Earlier the company had a plan to set up the unit in proposed textile park in Satlapur near Mandideep. But the area is facing an acute water shortage. However, the Budni site has sufficient water since it is located near the Narmada river. Initially the company has plans to invest Rs 850-1,000 crore, likely to go up further. |
| The project is likely to create direct employment for more than 3,000 people. The company is likely to invest Rs 200 crore in social activities. This would be the second textile project coming in Budni, Sehore district, which is also the constituency of Chief Minister Shivraj Singh Chouhan. SP Oswal-promoted Verdhman group is also near the completion of its Rs 800 crore cotton yarn manufacturing integrated composite mill. |
| The company, according to a government insider, has been given exemption on entry tax on raw material, capital goods and construction material, material for captive power plant for a period of five years, exemptions on cess and electricity duty for a period of 10 years. AIL is the flagship company of the Trident Group ""Rs 1,500 crore group with operations in yarn, textiles (terry towel), paper and chemicals. AIL has two main businesses ""textile and paper. |
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