Cabinet nod for textile park in Shimoga

Cabinet nod for textile park in Shimoga

Blore-based company to invest Rs 560 cr in the project

The State Cabinet gave its approval for the project in a meeting held on Thursday.

The proposed project, coming up in a Special Economic Zone, is expected to offer employment to 10,000 people.

Textile Minister Goolihatti Shekhar on Friday said that only Shahi Exports came forward to set up the park in Shimoga. The promoter enjoys tax exemptions as per the SEZ norms and will be investing Rs 560 crore for the project.

The proposal to set up the textile park in Shimoga had come up for discussion before the Cabinet in its previous meeting, however the minister had objected to it stating that the subject was not in the Cabinet agenda. Goolihatti Shekhar and several others insisted that the Cabinet should not take up additional subjects for discussion. As a result the decision on the issue was deferred.

More parks

On Friday, Goolihatti Shekhar held a meeting with representatives of Bombay Rayon and Gokuldas Hinduja.

Speaking to reporters after the meeting, Shekhar said that the companies had shown interest in setting up similar units in other parts of the State including Mysore, Harapanahalli, Belgaum and Chitradurga.

He added that the government would promote investment in cities other than Bangalore to check migration of rural community to the state capital.