In the next five years, India's first privately-owned textile park will take shape on the outskirts of the city here at a cost of about Rs 1,200 crore.

Being set up by Pradip Overseas Ltd, this park will have a cloth production capacity of five lakh meters per day and will cater to large markets in United States and Europe.

The proposed park christined as `Green Field Textile Park' will be set up on 115 hectares of land on the Bavala-Bagodara highway about 50 km from Ahmedabad.

"This will be an integrated textile park where all the activities related to home textile starting from spinning, weaving, processing, stitching, packaging and dispatching will take place from one location," said J S Negi, director of the company, while addressing mediapersons here today.

The foundation stone of this project will be laid by Gujarat Chief Minister Narendra Modi tomorrow.

"The textile park will be developed in a phased manner and will be completed in the next five years and having a production capacity of five lakh meters per day," said Negi.

The park will be completely owned by Pradip, he added.

"The cloth produced here will be largely exported to the big markets in United States and Europe," said the director of the company which is a leading exporter of household linens like flat sheets, duvet covers, fitted sheets, pillowcases, curtains and other items.

Once fully developed, the park will generate employment avenues for about 20,000 skilled and unskilled workmen, Negi added.