Business Daily from THE HINDU group of publications
Friday, Nov 17, 2006
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Business Daily from THE HINDU group of publications Friday, Nov 17, 2006 ePaper |
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Announcements Agri-Biz & Commodities - Jute States - Andhra Pradesh Swarnandhra jute mill begins production Ch. R.S. Sarma
Srikakulam , Nov. 16 Swarnandhra Jute Mills Pvt Ltd, set up at Pydhibheemavaram village in Srikakulam district at a cost of Rs 10 crore, started commercial production on Wednesday. The mill was inaugurated by Mr Mullapudi Harischandra Prasad, Chairman of Andhra Sugars. Mr B.V. Rama Rao, Chairman and Managing Director of Swarnandhra, said that the annual capacity of the mill is 5,400 tonnes and that it would produce fine jute yarn. "We plan to increase the capacity in phases and take the investment in the mill up to Rs 100 crore. Right now, it is a small and medium industry. We are employing 350 persons." Machinery was supplied by Lagan Company of Kolkata and Miltex of Coimbatore. Mr Mullapudi Harischandra Prasad recalled the travails faced by him when he first set up Andhra Sugars at Tanuku in West Godavari district in the late 40s, soon after Independence, and how his group had prospered over six decades. "Concentration on quality, coupled with persistent efforts to cut costs, always pays rich dividends, regardless of the fluctuations in the market." He exhorted the management and the workers to strive for the development of Srikakulam district. Mr M. Somanadham, Assistant General Manager, Andhra Bank, said that the bank had lent Rs 5 crore (inclusive of working capital) to the mill. Mr G. Rajendra Prasad, General Manager of the District Industries Centre, said that the setting up of the mill would help in development of the district as it is a labour-intensive industry. Mr B.V. Ram, Executive Director, and several others spoke.
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