AHMEDABAD: The Ahmedabad-based Chiripal group, which has interests in textiles as well as petrochemicals, is in the process of setting up a textile park in Ahmedabad district. The company is awaiting a clearance from the project approval committee of the Union textile ministry. Chiripal group? executives say the park will attract an investment to the tune of Rs 800-1,000 crore.
The park, which will come up on 100 acres of land in Bareja, will mostly house weaving, spinning and texturing units. ?ur vision is to make Chiripal a leading textile house, with a place in the national top 10 and a significant global presence.
We are discouraging processing units and encouraging apparel and embroidery units,?said group chairman Ved Prakash Chiripal. He said the company is already in talks with some big textile players to set up their units in the park. ?e expect an investment of around Rs 800 crore in the park,?he said.
The group is also considering setting up an apparel park on 70 acres of land in Ahmedabad. ?e believe there is a lot of potential in the garments segment. We intend to occupy around 20% space in the proposed apparel park and the rest will have prominent players,?Mr Chiripal said.
The group, which had started with a few power looms in 1972, has evolved into an integrated textile house now.
The Adani group has already got the necessary clearances from the Union government to set up an integrated textile and apparel park in its special economic zone (SEZ) in Mundra. The Rs 130-crore park, being developed under the government? SITP, will be the first textile park in an SEZ.
?n coming years, we aim to increase capacities by adding new product lines through expansion and diversification. We intend to increase our capacities to produce 20m metres denim per annum at Nandan Exim,?Mr Chiripal said.
