Home / Knowledge / News / Textiles / MAS Holdings sets up US$ 70mn fabric knitting plant
MAS Holdings sets up US$ 70mn fabric knitting plant
03
Dec '12
A US$ 70 million knit fabric plant is being set up by Sri Lanka-based apparel exporter MAS Holdings at its own industrial park, Sri Lanka's Board of Investment (BOI) said in a statement.
 
The new plant – MAS Fabrics (Private) Ltd – would be set up in Thulhiriya to the north-east of Colombo, the statement said.
 
According to Sharad Amalean, Deputy Chairman MAS Holdings, the new plant would be the company’s largest technology-based investment so far, BOI said.
 
MAS Holdings is keen about innovation and is willing to invest in it by partnering with those who replicate the values same as theirs.
 
Thulhiriya initially housed a state-owned textile mill, set up during the era when an anti-import anti-free trade philosophy was highly prevalent and import substitution was highly emphasized on.
 
However, the textile mill was later on acquired by a Korean company, which succeeded in exports to some extent initially, but later on it ceased operations.
 
Now, MAS Holdings, a leading apparel industry player, has developed facilities for producing high-end harmless export apparels at the location. According to BOI, the facility echoes a ‘spirit of innovation’ in the country’s apparel industry and is also tuned in with the country’s goal of reducing use of imported raw materials.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search