The Ludhiana Integrated Textile Park project has got the first installment of Rs 4 crore from the textile ministry.
Talking to Business Standard, Ludhiana Integrated Textile Park Managing Director Vinod K Thapar said it was a matter of pride that the park now stands approved and that a grant of Rs 40 crore had been sanctioned. Out of this, Rs 4 crore had been received, he said.
Thapar said 86 knitwear and textile units had agreed to set up base in the park, which was coming up around 15 kilometres from the city on the Ludhiana-New Delhi road.
The project envisages streamlining the functioning of knitwear and textile industry in Ludhiana and help it compete in the global market by providing top-class facilities.
“To start with, the park is being developed on 60 acres with a provision for further extension. It will be a cluster of about 90 knitwear/textile units. While the park envisages a total investment to the tune of Rs 1,500 crore, it will provide direct and indirect employment to about 1,25,000 persons,” he said.
Thapar said the complex would have an effluent treatment plant, a captive power plant, a trade centre and a sophisticated research and development centre. The boundary wall was complete and earth-filling was nearing completion, he said.
Throwing light on the background of the park, Thapar said the idea to set up a special textile park in Ludhiana was mooted by Ludhiana Knitwear Club. Encouraged by co-operation from the members, a special purpose vehicle (SPV), called Ludhiana Integrated Textile Park Ltd, was formed.
“The necessity of forming this SPV arose as it was a pre-requisite for developing a textile park under the Ministry of Textile’s Scheme for Integrated Textile Parks”, Thapar said.
