A jute park entailing an investment of Rs 100 crore is coming up in the
Sabbaravarm mandal of Visakhapatnam district, Andhra Pradesh.
Of the total funds, the Union Government is to contribute Rs 40 crore for
creation of physical infrastructure, including roads, office buildings, a
laboratory, training centre, raw material and finished goods warehouses and
other facilities. It will also provide a 20 per cent investment subsidy on plant
and machinery for units to be set up at the park.
Andhra Pradesh Jute Development Centre, a SPV formed to promote the jute
industry, is expected to pump in Rs 40 crore and the Andhra Pradesh Government
will provide assistance of Rs 20 crore.