Rs 120 crore textile unit comes up in Kathua, to employ 650 youth : The Tribune India

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Rs 120 crore textile unit comes up in Kathua, to employ 650 youth

Rs 120 crore textile unit comes up in Kathua, to employ 650 youth

Photo for representational purpose only. File photo



ANI

Kathua, March 2

A textile unit has started functioning at SIDCO (State Industrial Development Corporation), Bhagthali, in Kathua after investing Rs 120 crore and creating avenues of employment for 650 youths. Bloomtex Industries is one of the industrial units that has set up their unit in SIDCO, the new industrial estate at Kathua’s Bhagthali.

The Commissioner to the J&K Industries and Commerce Department, Vikramjit Singh, accompanied Bloomtex directors Mukesh Tyagi and Anil Tyagi to inagurate the unit, one of the biggest, at SIDCO Bhagthali.

The company has acquired 201 kanals of land from SIDCO at Bhagthali Industrial Estate, Kathua, on lease, officials said adding that the company has plans to invest around Rs 550 crore on this land in three phases. The first phase of Rs 120 crore has already been implemented.

“The second phase of the project will now be implemented from April 2024 onwards at a cost of Rs 138 crores and will start production latest by June 2025. The third phase will be of approximately Rs 300 crores, which will be implemented in the year 2026-27 before the central sector industrial policy expires,” Mujesh Tyagi said.

Speaking about employment opportunities, Tyagi said, “The employment in the first two phases will be over 650 and once the third phase is completed, around 1000 people will get employment at this project.

The project is set to benefit the Kathua area’s local economy and provide sizable employment in Jammu and Kashmir.

Commissioner Vikramjit Singh appreciated the efforts of the company for its remarkable efforts to establish the unit within a short span of nine months. He added that industrialisation must boost the economy of Jammu and Kashmir as well as open a larger avenue of employment for local youths.

#Kathua


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