Chinese company to invest Rs 600cr in textile industry – Feedback

The textile industry of Uttarakhand is set to take a major leap as a Chinese company has evinced interest in investing in the state.

The company aims to invest Rs 600 crore in 35 acres in the textile park at Sitarganj in Udham Singh Nagar. A delegation of industrialists will be coming from Ludhiana to meet the State Industrial Development Corporation of Uttarakhand Limited (SIDCUL) on August 12. The first round of meeting was held in Punjab last week, following which the investors will visit the hill state. According to industry officials, firm Innovative textile, SB Polytech, Sepia and YC Yarn will be setting up the manufacturing units in Sitarganj phase II. All the firms will invest around Rs 100 crore in initial period.

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