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Raymond to invest Rs 197 crore
Raymond Ltd will be investing Rs 197 crore for expanding capacity at its integrated fabric manufacturing faclity in Gujarat.
Raymond Ltd will be investing Rs 197 crore for expanding capacity at its integrated fabric manufacturing faclity in Gujarat.
As per the plan, the company would expand capacity for worsted or polyester suiting fabrics by 3 million meters per annum resulting in a total capacity of 31 million meters per annum, it informed the stock exchanges.
The facility would be set up in Vapi, Gujarat and involve spinning as well as finishing of fabric, making it one of the largest integrated manufacturing facilities for worsted suiting in the world.
"The Company is moving forward as planned along the path of becoming a world-class integrated textile player through putting up world class manufacturing capacities and partnerships with internationally well-reputed premium players," Raymond chairman and managing director Gautam Hari Singhania said.
The first phase of expansion announced last year is expected to start commercial production soon.
