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Oswal & GOM ink MoU to set up Kolhapur shirting project

18 Jun '07

3 min read

The Ludhiana based Oswal Group signed a MoU with the Government of Maharashtra (GOM) for establishment of a yarn-dyed shirting project at Kagal, near Kolhapur in Maharashtra.

The MoU was signed by Mr. Ashok Oswal, chairman & managing director of Oswal F.M.Hämmerle Textiles Limited and Mr V K Jairath, principal secretary (industries) Govt of Maharashtra in presence of honb'le chief minister Shri Vilasraoji Deshmukh.

Mr. Ashok Chavhan, hon'ble minister of industries and Shri Harshvardhan Patil, the guardian Minister of Kolhapur district were also present on this occasion.

Speaking at a function arranged for this purpose in Mumbai, Shri Ashok Oswal, Chairman of Oswal group said that "in our effort to have more items in the value-chain, we had decided to enter the weaving activity and were looking for an appropriate location and Kolhapur seemed to be a very right choice from various angles.

The project under reference would cost about rs 295 crores including the spinning project and is likely to generate direct employment for about 650 persons in addition to indirect employment related to this activity.

The project is being set up under a joint-venture agreement with F.M.Hämmerle group of Austria who are a reputed fabric makers of Europe for last many many years. The civil work at the site is over and the important machinery & equipments have already arrived at the site. The plant will have a capacity of making 12 million mtrs of high-end shirting fabric which will be exported to Europe, USA and other Asian countries.”

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