Trident to invest 9.63 Bn in Madhya Pradesh complex

Friday, 26 October 2007, 07:00 Hrs
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Indore: The 15-billion Trident group, with interests in textiles, paper and chemicals, is investing 9.63 billion in Madhya Pradesh to set up an industrial and agro-tech complex.

State Chief Minister Shivraj Singh Chouhan laid the foundation stone of the complex at Budhni near Bhopal Friday. Budhni is the constituency of the chief minister.

"The industrial complex would comprise a spinning-cum-textile unit with 200,000 spindles and 400 looms. The initial spinning facility with 100,800 spindles would be commissioned by March 2009, creating direct employment for nearly 3,000 people," Trident group's chief executive Rajeev Gupta told IANS.

For the project, the group has acquired land from farmers directly and will provide employment to at least one person from each displaced family, he added.

The group already has a spinning-cum-textile facility with 125,952 spindles in Punjab, which is the largest in its category in the country. With the Budhni facility, the group's spinning capacity will rise to 180 tonnes per day, placing the company among the top three yarn manufacturers in India.

A substantial part of the complex will be devoted to an agro-tech project that envisages establishing a model agriculture farm, where the company will provide on-farm training to local farmers in modern techniques of production.

The area within a radius of 50 km from Budhni will be identified for contract farming with a buyback guarantee to enhance productivity and profitability of farmers.

For this the company plans to establish state-of-the-art facilities for production, post-harvest handling, transportation and processing. The quality produce will be graded, sorted and marketed within the country and abroad after value addition.

"The area in Budhni is on the banks of the Narmada River. The climatic conditions are ideal for cultivation of a number of agricultural crops and the area is well connected by road and rail," Gupta pointed out.
Source: IANS
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