Welspun to infuse Rs. 40 billion on three large textile projects in Gujarat

Excerpt: Welspun India signed three MoUs with the Gujarat state government during the ongoing Vibrant Gujarat Summit 2017, taking the total investment from Rs. 10000 crore to Rs. 14000 crore.

Wednesday, January 11, 2017, New Delhi, India

Welspun India signed three MoUs with the Gujarat state government during the ongoing Vibrant Gujarat Summit 2017. This fresh investment of Rs. 4000 crore will increase the already invested amount from Rs. 10000 crore to Rs. 14000 crore.

50% of this new investment will be used in setting up an integrated textile manufacturing hub in Kutch, which will offer an ecosystem for the setup of manufacturing facilities and can generate around 5000 direct and 15000 indirect employment opportunities.

50% of this new investment will be used in setting up an integrated textile manufacturing hub in Kutch, which will offer an ecosystem for the setup of manufacturing facilities and can generate around 5000 direct and 15000 indirect employment opportunities.

The Group Chairman, B K Goenka mentioned, “Our continuous investment in the state is a testament to our long-term commitment to Gujarat.

The Group Chairman, B K Goenka mentioned, “Our continuous investment in the state is a testament to our long-term commitment to Gujarat. It is our aim to make Gujarat the textile hub of the world. Welspun continues to invest into development of well- researched products and technology of the future and the current investment is in line with this philosophy.”

50% of this new investment will be used in setting up an integrated textile manufacturing hub in Kutch, which will offer an ecosystem for the setup of manufacturing facilities and can generate around 5000 direct and 15000 indirect employment opportunities. Rs. 1000 crore will be spent on the technical textiles business and a similar amount is allocated for its advanced textiles arms. The capacity enhancement of the technical textiles segment will create 1500 direct openings, whereas the expansion of the advanced textile arm will result in 2000 direct and 5000 indirect jobs.

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