Welspun signs MoU with Orissa to set up textile park
12 Oct '06
1 min read
Orissa Government has signed a Memorandum of Understanding (MoU) with Welspun Anjar SEZ to open an integrated textile park in the industrial town of Choudwar.
The Integrated Textile Mill (ITP) will include modern spinning and weaving mill among others facilities.
The deal establishes Orissa as a cotton hub with the quality matching the best of cotton from Egypt and this is what Welspun wants to cash in on.
Vice-Chairman of Welspun, VK Goenka assured of setting up well equipped mill in the area. He also said that Welspun realizes the quality of cotton produced in Orissa.
The company will take possession of 400 acres of land to set up the spinning mill of 25,000 spindle capacity and a weaving mill. The project is expected to cost Rs300 crore and will take three years to complete.
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