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Srikakulam, Jan. 30

Swarnandhra Jute Mill at Pydi Bhimavaram in Srikakulam district is planning to expand its capacity from the present 10 tonnes to 100 tonnes at a cost of Rs 100 crore, said Mr B.V. Rama Rao, the promoter. The twine mill went into production in November last year.

A loan of Rs 4.5 crore was obtained from the Andhra Bank. Laying the foundation stone for the expansion this week, Mr Rama Rao said several banks and NRIs were willing to finance the expansion project. He said there was immense potential for setting up jute units in Srikakulam district. Till now, the mill has employed 350 people, mostly women, and ultimately 5,000 would be given jobs in the mill, he claimed.

More Stories on : Outlook | Jute | Andhra Pradesh

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