Arvind Ltd to set up Rs 300 apparel park in Andhra Pradesh

By

Maverick Martins

Published
Mar 5, 2018

Indian textile major Arvind Limited will invest Rs 300 crore (approx $46 million) to set up a textile and apparel park in the state of Andhra Pradesh to boost its production capacity, said a top company official.
 

Arvind is eyeing 20 percent growth in the current financial year and has been investing heavily in scaling up its operations from expansion of its brand outlets to setting up new manufacturing units.
 
It had posted strong numbers for the third quarter with revenue of Rs 2706 crore (approx $425.6 million) and profit after tax at Rs 90 crore (approx $14.2 million).

The facility will be implemented in multiple phases across 100-125 acres with a capacity to produce 24 million pieces of shirts, jeans per annum. The new apparel park is expected to create employment for around 15000 people.
 
Arvind Ltd has signed a memorandum of understanding with the Andhra Pradesh Economic Development Board to set up an integrated apparel and textile park in Chittoor. ‪The MoU was signed between Kulin Lalbhai, Executive Director, Arvind Ltd, and J Krishna Kishore, Chief Executive Officer, APEDB, in the presence of Chief Minister N Chandrababu Naidu.
 
 “Textiles is a priority sector for Andhra Pradesh as the state aims to increase productivity and efficiency by attracting integrated textile units,” J Krishna Kishore, CEO, APEDB, told the Businessline.