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Alps Industries to set up Rs 250 cr textile unit

07 Mar '06
2 min read

Ghaziabad-based Alps Industries plans to set up a Rs 250 crore weaving and textile-processing plant near Roorkee, in Uttar Pradesh with production expected to start in March, next year.

The company leads in home furnishing, fashion accessories and architectural products, and is in the process of acquiring around 40 acres of land for setting up weaving and textile processing plant.

Civil construction work is expected to start next month, said Alps Industries Managing Director, Sandeep Agarwal.

The company plans to raise Rs 125 crore through banks, Rs 100 crore equity through GDRs and Rs 25 crore would come from internal accruals, he added.

Under expansion strategy, company had recently set up a fibre-dyeing spinning unit at Haridwar, and had bought two spinning mills located at Kashipur and Jaspur to raise yarn production from 33 TPD to 100 TPD by May 2006, adds Agarwal.

Yarn will be used for downstream products like made-ups and terry towels, Agarwal informed.

The company sells home furnishings under Vista Home Fashions; fashion accessories under Le Pashmina; office furniture fabric under Response; architectural products under Vista and wooden floorings under the Vista Floor Fashions brand.

Textile products contribute 89 percent while the rest comes from architectural items to the company's kitty.

Alps Industries products are sold to reputed brands in the US, the UK, Spain, Italy and Greece, that accrue about 30 percent of the company's turnover, rounded off Agrawal.

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