Home / Knowledge / News / Textiles / Welspun group to invest Rs 4,000 cr in textile projects
Welspun group to invest Rs 4,000 cr in textile projects
11
Jan '17
Home textiles major Welspun Group will invest Rs 4,000 crore in three large textile projects in Gujarat. An integrated textile manufacturing zone will be developed in Kutch at a cost of Rs 2,000 crore, as a part of Indian government’s Sagarmala project. The group will also invest in its technical textile business and in the advanced textile arm of Welspun.

All the three memoranda of understandings (MoUs) are being signed during the ongoing Vibrant Gujarat Summit 2017 in Gandhinagar. Welspun Group chairman BK Goenka made the announcement at the summit.

“Our continuous investment in the state is a testament to our long term commitment to Gujarat. It is our aim to make Gujarat the textile hub of the world. Welspun continues to invest into development of well-researched products and technology of the future and the current investment is in line with this philosophy,” said Goenka.

The integrated textile manufacturing zone in Kutch, the larger of the three projects, will provide a unique ecosystem for entrepreneurs to set up manufacturing facilities. Under the project, the company aims to develop a large, modern and futuristic textile industrial complex that will manufacture and supply world class textile products for the global markets. This will generate direct employment of nearly 5,000 and will provide indirect employment to another 15,000 people.

Welspun will further invest Rs 1,000 crore in its technical textile business for capacity enhancement, addition of new products and training and skill development. Under this vertical, the company has already made its mark with products for specialised use in healthcare, fire departments and other utilities. The project will give direct employment to nearly 1,500 people.

Another Rs 1,000 crore will be invested in the advanced textile arm of Welspun that focuses on manufacturing specialised materials for applications in aerospace, defence and automobile sectors. The project will generate a direct employment of 2,000 persons and indirect employment of 5,000.

With the latest announcement, Welspun Group’s total investment in Gujarat will touch Rs 14,000 crore. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

India's Kay Ventures aims to turn Karur into knitwear hub

Apparel/Garments | On 20th Aug 2018

India's Kay Ventures aims to turn Karur into knitwear hub

India’s Kay Ventures has teamed up with Hydra Micro Business...

Uzbekistan-China meeting discusses textile cooperation

Textiles | On 20th Aug 2018

Uzbekistan-China meeting discusses textile cooperation

A meeting of the Uzbek-Chinese business forum on cooperation in the...

Talks on to set up a Vlisco unit in Benin Industrial Park

Textiles | On 20th Aug 2018

Talks on to set up a Vlisco unit in Benin Industrial Park

Negotiations are under way to attract Dutch firm Vlisco, one of West...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search