Mumbai based Ackruti City is planning to set up textile park - Asmeeta TEXPA
- in Bhiwandi in Maharashtra at an investment of Rs 300 crore.
The company has formed a SPV - Asmeeta Infratech - to develop the proposed
park on 60 acre. The park is likely to be completed within a year.
The project is likely to be eligible for Rs 40 crore subsidy from the Union
Government as it comes under the Union Ministry of Textile's Scheme for
Integrated Textile Parks (SITP).
According to sources, the unit holders of the textile park are likely to
qualify for various assistance from the Union Government such as 20 per cent
margin money subsidy for power looms for the small-scale industries (SSIs), 15
per cent margin subsidy for SSI textile and jute sectors.