Published
Feb 21, 2018
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Raymond Group signs MoU to invest in Maharashtra

Published
Feb 21, 2018

Raymond Group have announced that they have signed a memorandum of understanding (MoU) with the Government of Maharashtra stating that the textile and apparel business will invest 425 crore rupees (approximately 63.9 million US dollars) in the state.


Raymond will invest 425 crore rupees in Maharashtra - Raymond- Facebook


The Raymond Group, under JK Investors (Bombay) Ltd., has pledged to invest a total of 425 crore rupees in Maharashtra following a MoU signed by the group at the recent Magnetic Maharashtra investors’ summit. The investment will be put towards a large scale construction project that is set to commence in the 2018/2019 financial year.

The MoU details an investment of 50 crore rupees (approximately 7.5 million dollars) to set up and school and a sports complex and an investment of 375 crore rupees (approximately 56.3 million dollars) to construct a residential complex which will comprise 2,000 houses and commercial amenities.

This large investment from Raymond Group will follow the business’ subsidiary, Raymond Luxury Cottons Ltd.’s, recent inauguration of the new Greenfield Linen manufacturing facility. The facility resides in the recently opened Textile Park in Nandgaon Peth, Amravati, and so Raymond’s forthcoming construction project will also be part of this development.

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