Jindal Group to set up Rs 1,500-crore textile unit in Nashik

Jindal Group to set up Rs 1,500-crore textile unit in Nashik

 Jindal Group will set up a Rs 1,500-crore technical textile unit in Nashik district of North Maharashtra.

Textile Minister Mohammed Arif Naseem Khan said today that a letter of intent (LoI) has been issued in this regard after the Group officials met him last week.

The Group is currently in the process of acquiring land. About 100 acres will be required for the unit which will manufacture cloth related to automobile applications, sports, security, medical and fire fighting equipment, he said.

Technical textile products are used primarily for their technical performance and functional properties rather than their aesthetic or decorative characteristics.

Investment proposals worth around Rs 5,000 crore had been received ever since the Government announced a new textile policy a couple of months ago, the Minister said.