Warangal, a city in the south Indian state of Telangana, is expected to witness the launch of Kakatiya Mega Textile Park by May 2019.
It is being reported that Telangana State Industrial Infrastructure Corporation (TSIIC) officials will soon initiate the online allocation of land for facilities to be set up. Investments worth Rs. 1,100 crore are probable in the initial phase of the textile park, which is spread over 1,200 acres of land.
There is also a provision to expand the park to 2,000 acres in the future.
A top-level meeting between TSIIC officials and Telangana-based textile companies from Telangana who have manufacturing units in Sholapur, Surat, Bhiwandi and other such textile clusters across India, recently. Interestingly, the textile companies are open to set up units in the upcoming textile park if they are provided with lucrative incentives and policies.
“In case of setting up the units within prescribed time, the industrialists will get 50 percent subsidy in land cost, 25 per cent subsidy on capital and equipment, besides supplying power at subsidised rates,” a TSIIC official said. Notably, the textile park will have all the infrastructural facilities, be it roads, railway over bridge, uninterrupted power supply, etc. Pipelines for the supply of 30 MLD and development of a 133 KV power station are also in progress.
Reports claim that the companies asked for 1,000 sq. m. for their units with an investment of Rs. 1.8 crore.
It is pertinent to mention here that Kakatiya Mega Textile Park is expected to fetch investments worth Rs. 9,000 crore by 2023. 14 textile companies had inked MoUs with the State Government to set up facilities worth Rs. 3,400 crore last year.