Bangalore-based textile exporter Gokaldas plans to invest around Rs170 crore over 18 months raise its garment capability from 24 million to over 40 million pieces a year.
Group firm, Gokaldas Exports Apparel and Textile Park, will set up the special economic zone (SEZ) by investing Rs100 crore in the 400 acre adjacent to Bangalore.
Rajendra Hinduja, Executive Director said, 'Moreover, we will be investing Rs70 crore to set up four new production units over 12 to 18 months.' The new amenities will come up in Mysore, Hyderabad, Chennai and another one near Bangalore.
He was discussing on the sidelines of the International Textile and Apparel Congress held in recent times. The SEZ unit will have 2,500 employees and will produce 1.5 million pieces a year.
The other four units are projected to increase the company's capacity to 36 million units a year.
Maintaining the growth thrust, the exporter is set to be one of the first in the country to cross 40 million pieces within three-year period.
The company is exploring land for the units in Hyderabad and Chennai yet one more unit is likely to come up on its own building near Bangalore.
Company also devices to improve equipments at its existing units.
It will invest about Rs20 crore for installing material managing systems, conveyors and productivity-enhancing equipment.
Company had got clearance earlier this year to come up with the Rs1,500 crore SEZ near Bangalore.
Hinduja said, 'Almost 50 entrepreneurs will invest in the SEZ that will give employment to 50,000 people. Within two years, it will generate a turnover of Rs2,500 crore.'