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MoU signed for hi-tech textile hub

The State Government has signed a memorandum of understanding (MoU) with Mumbai-based Infrastructure Leasing and Financial Services, which came forward to invest Rs 300 crore for a mega venture in a Hi-Tech Textile Park in the State.

The company would develop a national textile hub near Cheguru village of Kothur mandal in Mahboobnagar district. It is expected to generate 5,000 jobs.

According to officials sources, over 125 well experienced and potential weaver entrepreneurs have joined the Textile Park, which will house modern shuttleless powerloom weaving units in different widths and design equipments with focus on value-added product mix comprising, suitings, shirtings, furnishings, made-ups and export quality 100 percent cotton fabrics.

The State is hopeful that the public-private partnership venture with backward and forward linkages would help the weavers community.
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