Market centres to come up for silk and wool

Tribune News Service

Srinagar, November 13

Two composite market centres for silk and wool are being constructed at Rajbagh and Bemina areas of the summer capital under the World Bank-funded Jhelum and Tawi Flood Recovery Project.

Dr Raghav Langer, chief executive officer of the Jammu and Kashmir Economic Reconstruction Agency (JKERA), on Tuesday reviewed the progress of work on the construction of the composite markets.

A JKERA statement said the silk centre would be completed by October next year. “Till date, 27 per cent physical progress has been achieved and work on the project is expected to be completed by October 2019. The market centres are being developed in Srinagar at an approximate cost of Rs 35.88 crore. The project also includes procurement of new state-of-the-art machinery, interior work and designs of showrooms and repairs/restoration of existing showrooms,” the statement said.

The statement said the centre at Bemina would be completed by April next year. “The two centres will give a major impetus to silk and wool sectors by ensuring backward and forward linkages,” the statement said.