Published
Dec 18, 2017
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Raymond launches Rs 250 crore linen manufacturing plant in Maharashtra

Published
Dec 18, 2017

Textile and apparel conglomerate Raymond has opened its first linen manufacturing plant at Amravati Maharashtra. Chief Minister of the state Devendra Fadnavis inaugurated the first phase of the plant.
 

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Raymond has invested Rs 250 crore to complete the first phase of the Amravati plant which is spread across 500 acres. The plant will mainly produce cotton shirts, linen and denim, among others for all Raymond labels like Park Avenue, Colorplus etc.
 
The Amravati plant is expected to produce 1,200 tonnes of linen yarns and 4.8 million meters of linen and blended fabrics per annum and the production is expected to double post the completion of phase 2.

Along with retail expansion, Raymond has been aggressive this year on its manufacturing expansion in India and abroad. The company had invested Rs 100 crore in a plant at Hawassa Industrial Park (HIP) in Ethiopia earlier this year.
 
For Amravati, Raymond has earmarked Rs 1400 crore (USD 217.14 million) investment in the overall development of this plant which will take place in a phased manner.
 
"So far we have done about Rs 250 crore capex in this business and we have big ambitious plans as to doubling the capacity in phase 2," Raymond Chairman and Managing Director Gautam Hari Singhania told PTI.
 
"About 70 per cent will go for Raymond's own consumption and the remaining will go to domestic and international markets," Singhania said.
 
At present, Raymond has 1,100 outlets in about 450 cities. It is looking to expand its retail presence to about 1,500 stores by 2020.
 

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