Having received the central government's nod for withdrawal of formal approval of its special economic zone (SEZ), Ahmedabad-based Pradip Overseas Limited (POL) has launched the 'Bhamsara Industrial Hub' at the same premises near Ahmedabad.
Located at Bhamsara in Bavla taluka of Ahmedabad, the industrial park is spread across 1.8 million sq yards and is set to witness over 100 industrial units in sectors like textiles, engineering, auto ancillaries, logistics and warehousing activities.
"The implementation of MAT was having an adverse effect on our SEZ plans which forced us to seek withdrawal of its formal approval. However, we wanted to make the most of the 1.8 million sq yards land available with us. Hence, we have launched the industrial hub which will see over 100 industrial units. What's more, we have already received 20 per cent of bookings for several interested companies," said Pradip Karia, CMD, Pradip Overseas Limited.
The textile group, which manufactures home textiles products under the brand name of 'MYCK', had invested over Rs 100 crore for the land in the 'Bhamsara Industrial Hub'. However, when fully completed in next five years, POL expects to attract roughly Rs 3,500 crore worth of investments and would generate over 10,000 jobs for skilled and unskilled workers.
As part of the project, POL has proposed to provide developed industrial plots with adequate storage and handling facilities.
The basic infrastructure such as water treatment plant, effluent treatment plant, power distribution system, internal roads, drainage, and drinking water lines will be provided by POL. Apart from that, POL also plans to develop over 5,000 affordable housing properties within the industrial hub for the workers, supervisor and mid level executive of units in the hub.
Meanwhile, the company is also bullish about its textiles business. "We are witnessing steady number of orders from the western markets, especially the US for our home textiles products. Currently, 60 per cent of our Rs 1,600 crore turnover comes from exports," Karia added.
The group is involved in diverse activities including manufacturing of curtain, quilts, comforters, towel, cushions, flannel, jersey, towels and other products.
