The Hindu Business Line : Reddy to lay stone for textile unit in Nellore

The Chief Minister, Dr Y.S. Rajasekhara Reddy, will lay the foundation stone for MAS Holdings (Textiles and Garments Unit) at Chintavaram, Chillakur (M), Nellore District on Tuesday.

This project was grounded in a record time and is expected to see total investment of Rs 1,000 crore with an employment potential of over 30,000 in the next five years.

The memorandum of understanding for the project was signed in the presence of the Chief Minister on December 14, 2006.

According to a statement from the Chief Minister's Office here today, Dr Reddy will leave for Anantapur from Chintavaram and unveil the statue of late Sri Ananta Venkata Reddy, former MP and visit the Assad farm.

Later, he would lay the foundation stone for Nike garments manufacturing unit near Hindupur.

The Indus Fila Garment Project, along with other new initiatives in garment sector, is taken up in the backward areas of Hindupur to generate employment opportunities in textiles and garment sector.

The Bangalore-based Indus Fila has units at Nelamangala, Penya and Nanjangud (Mysore) in Karnataka supplying garments to global sportswear such as Nike. It has proposed to invest Rs 59 crore in the project.

Meanwhile, the proposed Apparel SEZ Project would be taken up by K Raheja Group at the Industrial Park, at Hindupur (Tummakunta) in over 350 acres with an investment of Rs 250 crore. The project has potential to create some 45,000 jobs in five years.

More Stories on : New Projects | Textiles | Andhra Pradesh

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