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BAC to be largest knit fabric mill in South Asia region

05
Apr '07
Sri Lanka's apparel sector giant Brandix will collaborate with Sri Lanka's largest knit fabric manufacturer Ocean Lanka to invest US$ 20 million in a joint venture knit fabric mill at the Brandix Apparel City (BAC) in Andhra Pradesh, India. Ocean Lanka is a joint venture partnership of Fountain Set (Holdings) Limited, Hong Kong, Brandix and the Hirdaramani group.

A Memorandum of Understanding (MoU) signed in Colombo by Brandix CEO Ashroff Omar and HA Chung Fong, Chairman, Managing Director and Founder of the Fountain Set Group, the major shareholder in Ocean Lanka, envisages the establishment of a state-of-the art manufacturing unit. Incorporated as Ocean India, the mill will serve the needs of apparel manufacturing units in BAC and will be the largest knit fabric mill in the South Asia region.

Commenting on this visionary new venture, Brandix CEO Ashroff Omar said: “Ocean Lanka's interest in investing in the BAC is a validation at the highest level of the potential for this mammoth apparel manufacturing city. Major international apparel manufacturers and other supply chain partners have expressed interest in setting up at BAC. The presence of one of the world's largest knit fabric manufacturers meets one of the biggest requirements of these stakeholders and underwrites the success of the project.”

Fountain Set Chairman and Managing Director HA Chung Fong said: “The BAC is one of the most exciting new manufacturing locations in the world, and we are pleased to go in with a partner of the calibre of Brandix to set up this new manufacturing unit in India.”


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