JOIN USAs many as 500 investors are expected to participate in the “Textile Investors Meet” to be held in Bangalore on August 30, Textiles and Ports Minister Baburao Chinchansur said on Tuesday.
Chinchansur said that the event would be a platform for entrepreneurs to invest in the proposed textile park of international standards in Yadgir district. Investors from across the country including Gujarat (which hosts a large number of textile mills), Mumbai, Hyderabad and Kolkata would be participating. The meet will be inaugurated by Chief Minister Siddaramaiah. The event will be held at Hotel Windsor Manor.
The Karnataka Industrial Areas Development Board (KIADB) has already acquired 3,300 acres of land in Yadgir of which 1,000 acres will be used for setting up the textile park, he said.
The State government is anticipating an investment of Rs 10,000 crore in the park during the next five years. The project has a potential to generate five lakh jobs, he said.He said that the land for the project had been acquired at the rate of Rs six to seven lakh per acre.