The Surat Super Yarn Park (SSYP) in Gujarat is likely to commence operations by October 2009.
The Rs 108 crore park has been promoted by 24 textile companies, led by Nakoda Textile Industries, Shubhlaxmi Group and Kothari Group.
The Union Ministry of Textiles has provided Rs 40 crore grant to SSYP, while IL&FS is likely to lend it Rs 51.74 crore. Besides, Nakoda Group has already invested Rs 16.25 crore for an 18.5 per cent stake in the park project. Shubhlaxmi Group and Kothari Group are expected to acquire 15 per cent stake each, while the remaining stake is likely to be distributed among 21 companies.
The yarn park is expected to have a 15 MW coal based captive power plant to be set up at an investment of Rs 55 crore. The main objective of the integrated textile park is to provide sound infrastructure facilities to small and medium companies.
Nakoda intends to set up 20 texturing machines with a capacity of 28,800 tonne at the park and it has teamed up with entrepreneurs in the Park to supply partially oriented yarn on a long-term basis.
Source : ProjectsToday
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