The Jindal Group is now all set to put up a Rs. 1,500 crore technical textile unit in Nashik district of Maharashtra. Mohammed Arif Naseem Khan the textile minister said that a letter of intent has been issued in this regard after the Group Officials met last week.
At present the group is in the process of acquiring land. The unit will require 100 acres, where the manufacturers will produce cloth related automobile applications, sports, medical and fire fighting equipment. The technical textile products are usually used for their technical performance and functional properties rather than the aesthetic or decorative characteristics. The minister said that the investment proposal has been received ever since the government announced the new textile policy.