test


Member ID:
Password: 
Stay logged in for 30 days
Forget Your Password?
close

login CCFGroup App

Industry News | Time:Jan 12 2017 8:10AM
Welspun group to invest Rs 4,000 cr in textile projects
 
Text size
Home textiles major Welspun Group will invest Rs 4,000 crore in three large textile projects in Gujarat. An integrated textile manufacturing zone will be developed in Kutch at a cost of Rs 2,000 crore, as a part of Indian government’s Sagarmala project. The group will also invest in its technical textile business and in the advanced textile arm of Welspun.

All the three memoranda of understandings (MoUs) are being signed during the ongoing Vibrant Gujarat Summit 2017 in Gandhinagar. Welspun Group chairman BK Goenka made the announcement at the summit.

“Our continuous investment in the state is a testament to our long term commitment to Gujarat. It is our aim to make Gujarat the textile hub of the world. Welspun continues to invest into development of well-researched products and technology of the future and the current investment is in line with this philosophy,” said Goenka.

The integrated textile manufacturing zone in Kutch, the larger of the three projects, will provide a unique ecosystem for entrepreneurs to set up manufacturing facilities. Under the project, the company aims to develop a large, modern and futuristic textile industrial complex that will manufacture and supply world class textile products for the global markets. This will generate direct employment of nearly 5,000 and will provide indirect employment to another 15,000 people.

Welspun will further invest Rs 1,000 crore in its technical textile business for capacity enhancement, addition of new products and training and skill development. Under this vertical, the company has already made its mark with products for specialised use in healthcare, fire departments and other utilities. The project will give direct employment to nearly 1,500 people.

Another Rs 1,000 crore will be invested in the advanced textile arm of Welspun that focuses on manufacturing specialised materials for applications in aerospace, defence and automobile sectors. The project will generate a direct employment of 2,000 persons and indirect employment of 5,000.

With the latest announcement, Welspun Group’s total investment in Gujarat will touch Rs 14,000 crore. (RKS)

Source: Internet
Related Articles
Unifi Q4 FY17 net sales up to $171.3 million
AkzoNobel publishes half-year and Q2 2017 results
Donear Group takes over Grasim Bhiwani Textile unit
Tembec reports financial results for its third fiscal quarter ended
VF Corp's Q2 revenue up two percent
Fujian Billion invests $91 million USD to build polyester plant in
Tembec shareholders agree to acquisition
Sateri CEO underscores importance of sustainability in Economist
Puma revenue for 2017 to rise 12 to 14 percent
China announces import ban on 24 types of solid waste
 
Research
Sales&production of Indian, Pakistani and Vietnamese cotton ...
Cotton production and consumption structure analysis in ...
PTMEG: price stops falling, supply&demand pattern alters ...
Influence forecast of CPL capacity expansion in second half ...
Will Chinese domestic cotton yarn emerge with uncompetitive ...
Polyester industrial chain pattern and change
 
 

浙公网安备 33010902000742号