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Capitanich discusses Santana Textiles' expansion in Chaco
29
May '14
Jorge Capitanich, Argentina’s Chief of the Cabinet and former Governor of Chaco province, met Igor Peridgao, director of Santana Textiles Argentina, and Marcelo Sánchez Castelán, business manager of the company, and discussed the expansion project of the company in Puerto Tirol town of Chaco province, according to an official statement.
 
 The expansion project requires an investment of 367 million pesos (US$ 45 million) and it will allow the company to generate both import substitution and increase exports to various markets in South America.
 
Santana Textiles is already a leader in the Argentine market in production and marketing of denim. The new investment will allow the company to produce a premium fabric, through installation of a spinning mill to produce inputs that are currently imported.
 
The expansion would raise the company’s fabric production capacity from the current 14 million metres per year to 24 million metres per year. It will also increase its yarn capacity from 3.6 million kg to 6 million kg. The number of employees at the Puerto Tirol plant will also go up from the present 438 to 724 once the expansion is complete.
 
The meeting was also attended by Cabinet Minister Sebastian Agostini, Director of National Bank Cecilia Fernandez Bugna and the Minister of Industry, Employment and Labour of the province of Chaco, Sebastian Lifton.
 
The expansion plan was first announced in the third quarter of last year, when it was said that the project would get completed in 12-15 months time.
 

Fibre2fashion News Desk - India

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