Carrera Holdings to jointly promote 7 textile parks
03 Oct '05
2 min read
Italian firm Carrera Holdings Inc will be one of the joint promoters of the Textile Park Consortium that will create three textile parks in Palladam, Cauvery and Vaigai and two more proposed at Karur and Erode.
Construction for the first two parks has already started and will be operational in about next five months.
These Centre sanctioned hi-tech weaving parks will see participation of decentralised powerloom sector units and cater to international customers, thus establishing their own brand entity.
Hyderabad Hi-Tech Textile Park and the Chincholi Integrated Textile Park (Sholapur) are the other participants in the joint venture, informed Vivek Jecob, Chairman and CEO, Carrera Holdings.
He said, Carrera Holdings member company Banyan Tree Holding will invest $2.5 million in the consortium in the coming eight months and the consortium will begin operations from October 25, 2005.
A central sales office of the consortium will come up in Mumbai providing marketing assistance initially target at European Union market.
Besides, samples handling, software and market intelligence systems will be also be developed with the initially focus on quality rather than quantity.
According to Chairman and Managing Director of the Palladam Park M. Senthil Kumar, the parks will try to uncover marketing opportunities with the assistance of Carrera Holdings Inc.
Praising Carrera, M S Mathivanan, Chairman and Managing Director of the Cauvery Park said the company will extend its marketing, financial and technical prowess in development of these parks.
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