Raymond sets up Rs 250 crore linen manufacturing plant in Maharashtra
PTI|
Dec 17, 2017, 05.05 PM IST
NEW DELHI: Textile major Raymond today launched its first ever Rs 250 crore linen manufacturing plant at Amravati that will cater to the company's own brands, domestic and international markets.
The facility is expected to produce 1,200 tonnes of linen yarns and 4.8 million meters of linen and blended fabrics per annum.
"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.
The plant was inaugurated by Maharashtra Chief Minister Devendra Fadnavis.
The new greenfield linen manufacturing facility is under the company's subsidiary Raymond Luxury Cottons Ltd.
"About 70 per cent will go for Raymond's own consumption and the remaining will go to domestic and international markets," Singhania said.
The facility is expected to generate direct and indirect employment for 800 people.
When asked about the demand for linen in India and elsewhere, Singhania said we have seen our demand for linen grow significantly and we sell a lot of linen all over the counter and therefore the plant was made keeping in mind the demand and opportunities.
The company has made an initial investment of Rs 250 crore for the first phase of the new unit that will produce cotton shirts, linen and denim, among others.
Singhania had earlier said the total investment will be about Rs 1,400 crore in a phased manner.
Raymond has a retail network with over 1,000 stores across 400 towns in India. It also has business interests in men's accessories, personal grooming and toiletries, among others, across national and international markets.
The facility is expected to produce 1,200 tonnes of linen yarns and 4.8 million meters of linen and blended fabrics per annum.
"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.
The plant was inaugurated by Maharashtra Chief Minister Devendra Fadnavis.
The new greenfield linen manufacturing facility is under the company's subsidiary Raymond Luxury Cottons Ltd.
"About 70 per cent will go for Raymond's own consumption and the remaining will go to domestic and international markets," Singhania said.
The facility is expected to generate direct and indirect employment for 800 people.
When asked about the demand for linen in India and elsewhere, Singhania said we have seen our demand for linen grow significantly and we sell a lot of linen all over the counter and therefore the plant was made keeping in mind the demand and opportunities.
The company has made an initial investment of Rs 250 crore for the first phase of the new unit that will produce cotton shirts, linen and denim, among others.
Singhania had earlier said the total investment will be about Rs 1,400 crore in a phased manner.
Raymond has a retail network with over 1,000 stores across 400 towns in India. It also has business interests in men's accessories, personal grooming and toiletries, among others, across national and international markets.
