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Brandix SEZ hopes to attract Rs 45 bn as investment
09
Jul '10
Brandix India Apparel City (BIAC) Pvt Ltd is hoping to receive investments of up to Rs 45 billion, over the coming 4-5 years. Negotiations for the same is currently going on, with around 8-10 apparel producers, worldwide.

An Indian wing of the Sri Lankan-based Brandix group, BIAC has established a textile SEZ in Visakhapatnam district, spreading across 1,000 acres of land.

Currently, four units are operational in the SEZ and have made a total investment, on the infrastructure and other facilities, of around Rs 4 billion. Two more units are about to be set up and an additional investment of Rs 4 billion will be made to develop production facilities.

Twenty-one integrated textile parks, to be set up across India, have received the Centre's nod in 2005. Currently, of these 21, two are operational including the BIAC.

With BIAC likely to consist of 20 more units, and following complete occupation of the zone, exports will be in a position to reach $1.2 billion per year.

Several China-based apparel firms are eyeing the BIAC zone, as a probable location for their units, and are most likely to establish their facilities soon enough. As of now, BIAC has already exported apparels worth Rs 1.9 billion and earning an additional sum of Rs 2 billion from clothing exports, is their aim for this fiscal.

As of today, more than 5,000 people are employed with BIAC and by the end of this fiscal; the figure will increase to touch 10,000. By 2015-16, BIAC aims to employ 60,000 persons, with most of them being rural girls.

Fibre2Fashion News Desk - India

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