SIMA to invest Rs 1,200 cr in AP

Hyderabad: The Chennai-based Loyal Textiles Mills Ltd and the Coimbatore-based Southern India Mills Association (SIMA) will bring in investments to the tune of Rs 1,300 crore into Andhra Pradesh. The representatives of these entities have signed a memorandum of understanding with the State Government here on Thursday in the presence of Chief Minister, Dr Y.S. Rajasekhara Reddy.

SIMA would invest Rs 1,200 crore in a Rs 650-crore textile park, providing employment to 15,000 people. At least ten SIMA members would join the effort.