With Himachal Pradesh Chief Minister Prem Kumar Dhumal laying the foundation stone for a technical textile park in Una district, last week, it could add new dimension to the status of industries in Himachal.
The state, which managed to attract investment worth Rs 7799.05 crores from 2003-2010(primarily due to central excise package) now faces a challenge of attracting the industries ,sans benefits.The lapse of tax and central excise concessions on holiday package announced for Himachal along with other states in 2002, was initiated with the withdrawal of excise package from March 31.
Sandeep Jindal , managing director, Ludhiana-based Jindal Cotex Limited(two subsidiaries of Jindal Cotex Limited are setting up their units in the park with combined investment of over Rs 200 crore, maintained the park could definitely provide a new facade for the industrial sector in Himachal. Since the upcoming park was a technical one it would attract players interested in setting up their technical textile units and could help the state add a new chapter to its textile industry.
The Himachal Textile park covering over an area of 65 acres, envisaging investment of Rs 350 crore, has interest shown by 12 companies to set up their technical textile units.
The park, in addition to common effluent treatment plant and sewage treatment plant, is also planning to come up with training centre which would impart the desired skill set required by the units setting up their bases in the park. Besides these , providing accommodation to the workers inside the park is being planned.
Jindal revealed two subsidiaries of Jindal Cotex viz Jindal Medicot Limited and Jindal Specialty Limited were setting up their units in the technical textile park.
While Jindal Medicot would be engaged in manufacturing medical textile products like, Absorbent Bleached cotton Wool Cotton Crepe Bandage, Jindal Specialty Jindal Speciality Textiles would be manufacturing PVC laminated products and other textile products.
The two subsidiaries are expected to commence their operations by next year.
The total revenue generation estimated from the park is pegged at Rs 650 cores once all the units coming in the park become operational, while Jindal Cotex through its subsidiaries is eyeing a turnover of Rs 250 crore.
