Pradip Group plans Rs 720 cr hi-tech textile park near Ahmedabad
02 Feb '06
1 min read
Pradip Hi-Tech Textile Park Ltd, promoted by Pradip Group has been planned to be built in 200 acres in Sanand near Ahmedabad, to manufacture garments and fabrics for exports as well as home textiles, with an investment of Rs 720 crore.
The Group plans to invest in different phases and is scheduled to start operations from 2007 with separate units for weaving, spinning, and processing to get the final product, said Pradip Karia, founder of the group.
Around Rs 110 crore will be initially invested of which 65 percent will be funded by four banks, said Karia.
Around Rs 205 crore is planned to be raised through Initial Public Offer (IPO) by August 2006 for further investments, said Karia.
This park will become the largest weaving and spinning unit of western India, informed Karia.
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