Financial Daily from THE HINDU group of publications
Wednesday, Jun 14, 2006
Financial Daily from THE HINDU group of publications Wednesday, Jun 14, 2006 |
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Corporate
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New Projects States - Andhra Pradesh Italian group mulls textile plant in AP Our Bureau
Hyderabad , June 13 Italian diversified group Camozzi Holding Spa, is planning to set up a Rs 600-700 crore textile plant in the Warangal district. A delegation headed by Mr Ettore Camozzi, Board member of Camozzi Holdings Spa, Italy called on the State Chief Minister, Dr Y.S. Rajasekhara Reddy, and expressed their interest in setting up a textile manufacturing plant in the State. The Government assured necessary support for this project. Mr Camozzi explained the specialisation of their diversified group, which has made a mark in 12 different spheres. The Chief Coordinator, Camozzi Textiles Pvt Ltd, Mr A.S. Rao, said the unit would handle spinning, weaving and production of both cotton and polyester textiles and garments for both domestic and export markets.
4,000 jobs
The company hinted that the project is likely to generate jobs for about 4,000 people in and around the Warangal district. Sri Lankan firm Brandix is now in the process of establishing a major unit near Visakhapatnam. The State Government and the Confederation of Indian Industry (CII) have identified textiles as a growth engine, which has registered a growth of about 15 to 20 per cent in the second half of last fiscal.
More Stories on : New Projects | Foreign Trade | Andhra Pradesh | Textiles
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