Nakoda Textile Industries Ltd., one of the leading players in the fully drawn yarn market, has informed that it has picked 18.5% stake in Surat Super Yarn Park.

Surat Super Yarn Park Ltd. (SSYPL) is a SPV (Special Purpose Vehicle) floated by the Nakoda group, Shubhlaxmi Group and the Kothari Group under the 'Scheme for Integrated Textile Parks" brought out by the Ministry of Textiles.

According to company official, the investment for the park is estimated at Rs 108 crore inclusive of coal based captive power plant of 15 MW at the cost of Rs 55 crore.

It should be noted that Nakoda has planned to set up 20 texturing machines with a capacity of 28,800 tonne in the textile park. In addition, the company has also tied up with entrepreneurs in the park for supply of its POY on the long term basis.