Nahar's MP project cleared

With the clearance of its 3.5 Mw-connected power load, Jawahar Oswal-promoted Nahar Spinning Mills Ltd has obtained all necessary clearances from the MP government to go ahead with its Rs 233 crore unit in the Simrai village in the Raisen district.

The Project Clearance and Implementation Board (PCIB) has granted in-principle permission for 3.5 Mw capacity power load to the company.

Nahar Spinning will be the third firm in the textile sector that has been given sanction and land to set up a unit in the state.

The other companies that have been granted necessary sanction, concessions and sops are the Verdhman Group and the Trident Group. Both the companies will set up textile units in Budni (Sehore district).

A few days ago, the company had applied for power load and had been asked by the Apex Committee on Investment Promotion to approach the PCIB. The committee had already considered some demands of the company pertaining to land acquisition, exemption from electricity duty and entry tax on raw material. Nahar Spinning, which produces export-quality cotton yarn, has a unit in Mandideep near Bhopal.

"The firm has been given in-principle sanction for its power plant at the Board meet, and now the project will take shape soon," said a top official of the state industries department.

The official said the industry department had requested the district collector to acquire requisite land for the firm. The company has asked for 36.99 acres of private land and 0.27 acre of government land.

Nahar will also get exemption from entry tax on purchase of raw material for five years and exemption from electricity duty for a period of seven years. With its two assembly lines of a total of 67,000 spindles in Mandideep, Nahar will add another 25,000 spindles by installing the new unit.

The company is also planning to enter the non-woven garment segment.

The 100 per cent export-oriented Mandideep unit of Nahar exports to the United States, Canada, Germany, Russia, Japan, Australia, New Zealand, Holland, Thailand, Hong Kong, Singapore, Taiwan, South Korea, Malaysia, Bangladesh, Mauritius, Dubai, Bahrain, South Africa, and Egypt.